A special court under the Prevention of Money Laundering Act (PMLA) has taken cognizance of the chargesheet filed against businessman Pravin Raut, said to be a close aide of Shiv Sena MP Sanjay Raut, and the promoters of a company called HDIL – Rakesh and Sarang Wadhawan. The special PMLA court said that their prima facie involvement in generating proceeds of crime and further laundering it is patent from the evidence.
The court observed, “Prima facie involvement of accused in generating proceeds of crime and further laundering the same as defined under Section 3 read with Section 4 is patent from the complaint, documents and statements under Section 50 of Act.”
Section 3 of PMLA defines money laundering and states, “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.”
Section 4 of PMLA states that the punishment for money laundering is rigorous imprisonment for a term which shall not be less than three years, but which may extend to seven years and shall also be liable to fine which may extend to five lakh rupees and adds, “Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words “which may…
