Question
Consider the following statements regarding the
definition of "Scheduled Offence" and its relationship to ED investigation: Statement 1: A scheduled offence must result in conviction for ED to initiate a money laundering investigation. Statement 2: If a scheduled offence case is registered but later acquitted, the ED cannot pursue money laundering charges. Statement 3: ED can initiate money laundering investigations based on ongoing investigations into a scheduled offence without waiting for conclusion. Statement 4: Some offences under foreign laws do not constitute scheduled offences even if they are serious crimes. Which statements are correct?Solution
Statement 1 is incorrect—conviction is not required; merely registering a case for scheduled offence permits ED action. Statement 2 is incorrect—acquittal in the underlying case does not necessarily preclude PMLA action. Statement 3 is correct—ED can initiate investigation based on ongoing scheduled offence investigation. Statement 4 is correct—schedule to PMLA covers primarily Indian laws; certain foreign offences may not be covered. Statements 3 and 4 are correct.
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