section 3 of the PMLA

IN THE HIGH COURT OF DELHI AT NEW DELHI
RESERVED ON 2
nd June, 2023
% PRONOUNCED ON -3
rd July,2023
+ BAIL APPLN. 1178/2023
VIJAY NAIR ..... Petitioner
Through: Ms. Rebecca Memmon John, Sr. Adv.
with Mr. Samudra Sarangi, Ms. Nitya
Jain, Ms. Alisha Luthra and Mr.
Pravir Singh, Advs.
versus
DIRECTORATE OF ENFORCEMENT ..... Respondent
Through: Mr.S.V.Raju, learned ASG with Mr.
Zoheb Hossain, Special counsel for
ED with Mr. Vivek Gurnani and
Mr.Kartik Sabharwal, Advocates
CORAM:
HON'BLE MR. JUSTICE DINESH KUMAR SHARMAThe offence of money laundering has been defined in section 3 of the
PMLA, which reads as under:
3. Offence of money-laundering.Whosoever directly or
indirectly attempts to indulge or knowingly assists or knowingly is
a party or is actually involved in any process or activity connected
with the proceeds of crime and projecting it as untainted property
shall be guilty of offence of money-laundering.
39. The 'proceeds of crime' has been defined under Section 2 (u) of PMLA,
which reads as under:
(u) proceeds of crime means any property derived or obtained,
directly or indirectly, by any person as a result of criminal activity
relating to a scheduled offence or the value of any such property 3
[or where such property is taken or held outside the country, then
the property equivalent in value held within the country] 4 [or
abroad];