Question

Under Section 4 of the Prevention of Money Laundering Act, 2002, what is the prescribed punishment for the offence of money laundering where the proceeds of crime relate to an offence specified under Paragraph 2 of Part A of the Schedule (i.e., offences under the Narcotic Drugs and Psychotropic Substances Act)?

A Rigorous imprisonment for not less than 3 years, which may extend to 7 years, with fine
B Rigorous imprisonment for not less than 3 years, which may extend to 10 years, with fine
C Rigorous imprisonment for not less than 5 years, which may extend to 10 years, with fine
D Simple imprisonment for not less than 3 years, which may extend to 7 years, with fine
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