Question
An ED officer, while investigating a money laundering case, discovers that proceeds of crime have been transferred to a third party who had no knowledge of the illicit origin. The third party claims to be a bona fide purchaser for value. Under PMLA, which statements are correct? Statement 1: The property cannot be attached because the third party is innocent. Statement 2: The property remains liable for attachment as proceeds of crime, but the third party may claim equitable relief. Statement 3: The third party can claim immunity if they were unaware of the illicit source. Statement 4: Only the original offender can be prosecuted; the third party cannot be prosecuted unless they actively participated in money laundering. Which statements are correct?
More Other Laws and Acts Questions
- If an enterprise and its acquirer have assets totaling more than ₹500 million outside India, what is the minimum asset value in India that must also be met...
- As per the Trade Unions Act, 1926, what is the minimum number of members required to apply for the registration of a Trade Union?
- Consider the following statements regarding territorial jurisdiction and applicability of Competition Act: Statement 1: Competition Act applies only to co...
- Under The Mediation Act, 2023, within how many days must a mediation service provider appoint a mediator upon receiving an application for mediation when p...
- Under the Bharatiya Sakshya Adhiniyam, 2023, which of the following is considered primary evidence?
- Consider the following statements regarding the quorum for Board meetings under Section 174 of the Companies Act, 2013: Statement 1: The quorum for a Boar...
- Section 27 repeals which specific Resolution(s)?
- What does "relevant product market" refer to_______________
- A person occupies public premises under a valid LICENSE which later EXPIRES, and there is no fresh permission. Under the Public Premises (Eviction of Unaut...
- According to Article 44 of the Constitution of India:
Relevant for Exams:
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
- 200 Questions with Detailed Solutions
- Section-wise Coverage (GA, English, Quant & Reasoning)