Prevention of money laundering act

m.karthikeyan (Querist) 28 October 2024 This query is : Resolved
“proceeds of crime” —

property derived or obtained directly or indirectly by any person as a result of criminal activity relating to a scheduled offence; or value of any such property; or where such property is taken or held outside the country, the property equivalent in value held within the country or abroad.

Can anyone differentiate the meaning of "derived" or "obtained" in the above and also directly or indirectly

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Quick Summary

This discussion explores the definition of 'proceeds of crime' under the Prevention of Money Laundering Act. It seeks to clarify the distinction between 'derived' and 'obtained', as well as 'directly' and 'indirectly', in relation to criminal activity and the acquisition of illicit property. Without specific case facts, a precise interpretation is challenging, but general definitions are provided.

Sudhir Kumar, Advocate (Expert) 28 October 2024
what are facts of the case.

P. Venu (Expert) 28 October 2024
What are the facts? What is the context?

kavksatyanarayana (Expert) 28 October 2024
A repeated query without facts.

T. Kalaiselvan, Advocate (Expert) 29 October 2024
Derived" means to obtain or receive something, especially from a specific source, while "obtained" means to come into possession of something.
You may discuss your problem so that proper opinion can be rendered

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