Prevention of money laundering act

Querist : Anonymous (Querist) 28 October 2024 This query is : Resolved
“proceeds of crime” i.e.— 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.

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This discussion clarifies the definition of 'proceeds of crime' as outlined in the Prevention of Money Laundering Act. It explains that this refers to property or its value derived or obtained directly or indirectly from criminal activity, including equivalent assets held elsewhere. The context aims to help users understand the legal implications and provide specific case details for further advice.

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
State full facts. What is your problem?

T. Kalaiselvan, Advocate (Expert) 29 October 2024
Derived: To take, receive, or obtain something, especially from a specific source. For example, "The word “runner” is derived from “run”.
Obtained: To come into possession of something. For example, "Obtain means to get something that is not so easy to come by such as knowledge, rights, or a large amount of money.
you may discuss your issue so that we can provide more opinion to your issue

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