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
- Under which section is the term "Fact" defined in the Bhartiya Sakshya Adhiniyam, 2023?
- Under Section 29A of the Arbitration and Conciliation Act, 1996, an arbitral award shall be made within:
- Section 15(1) of the Environment (Protection) Act, 1986 provides additional fine for continuing contravention up to:
- Who shall make rules as to cost of processes under Section 20 of the Court Fees Act?
- What can a company formed under the Companies Act, which has no significant accounting transactions and is intended for a future project or asset holding, ...
- Under the Competition Act, 2002 the Chairperson, if for any reason, is unable to attend a meeting of the Commission, the _______________ present at the mee...
- Under Section 79 of the Information Technology Act, 2000, when does an intermediary lose protection from liability for third-party content?
- Section 3 of the IT Act primarily deals with:
- According to the LLP Act a person may apply to the Registrar for the reservation of a name set out in the application as______________
- The concept that a principal is bound by the acts of his agent performed within the scope of authority is represented by which legal maxim_________________...
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)