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
- Which of the following best defines false imprisonment?
- What is the composition of a Permanent Lok Adalat established for an area as per the Legal Service Authorities Act?
- The main principles which underline the law of evidence are
- Among the following sections which is not deals with the presumptions of fact________.
- Which of the following is the Appellate Tribunal under the Competition Act?
- Under the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which of the following best describes the "Alteration of Charge"?
- Who propounded the Sociological School of Jurisprudence which focuses on the purpose and effects of law in society?
- According to section 7 of the Securities Contracts (Regulation) Act, 1956 Every recognized stock exchange shall furnish the ____________ with a copy of the...
- When Bhartiya Nyaya Sanhita, 2023 [BNS, 2023] was enacted?
- Under the Insurance Act what is the obligation of insurers in relation to reinsurance with Indian re-insurers?
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