Question
A person receives Rs. 50 lakhs through a bank transfer
from an undisclosed source. Investigation reveals that the source had committed a forgery (Section 463 IPC). The person intends to use this money to purchase immovable property. Under the PMLA, 2002, which statements are correct? Statement 1: Money cannot be termed proceeds of crime because forgery is not listed in the Schedule to PMLA. Statement 2: If this money is being used to invest in real estate, the property would be liable for attachment under Section 5 of PMLA. Statement 3: The Enforcement Directorate can initiate action only if a First Information Report is filed for forgery by a police officer. Statement 4: The person's possession of such money itself constitutes an offence under Section 3 of PMLA if they know it is proceeds of crime from a scheduled offence. Which statements are correct?Solution
Statement 1 is incorrect because forgery-related offences are covered under scheduled offences in PMLA. Statement 2 is correct—Section 5 permits attachment of property representing proceeds of crime. Statement 3 is correct—Section 2(1)(y) defines scheduled offences as those listed in the Schedule, and ED action requires a scheduled offence registered by law enforcement. Statement 4 is correct—Section 3 of PMLA penalizes possession of proceeds of crime knowing it to be such. Statements 2, 3, and 4 are correct.
According to the captain, his small fishing boat can hauling a huge amount of cargo.
Directions: In each of the questions, a sentence has been divided into four parts, one of which may contain an error. Identify that fragment and mark i...
As with people, some monkeys are lazy, (1)/ like those who sleep all day in the zoo, (2)/ and some were industrious. (3)/ No error (4)
Nazi war criminals accused with (A)/participating in the Holocaust continue (B)/to stand trial and any attempt (C)/of denial is met with punishment (D).
Even after all the corruption and mismanagement, the tribals of the North Eastern Region continue to send there children to study in government schools.
John is (A)/ always on cloud seven(B)/ when(C)/ he hears good news.(D)
Find the appropriate word.
The vessels were armed with anti-ship cruise missiles capable of destroying U.S. warships and escort by nuclear submarines.
You can cook up (A)/the most wanted criminals all over (B)/the world at Most Wanted, a site that (C)/links up to law enforcement's desired baddies (D).
Spot the grammatical errors in the given sentence. Mark the part with error as your answer. If there is no error, mark "No error" as the answer. (Ignor...
Relevant for Exams:
