A charge of criminal conspiracy under Section 120B IPC will attract PMLA proceedings only if the conspiracy is to commit an offence already included in Parts A, B or C of the Schedule to PMLA, the Court had held in 2023.
The Supreme Court ruled that for a money-laundering case to be initiated on allegations of a criminal conspiracy, the conspiracy has to be tied to a money-laundering offence included in the scheduled offences under PMLA.
A three-judge bench of the Supreme Court on Thursday decided that another bench of the Court would have to hear the case concerning the validity of provisions of the PMLA due to a paucity of time.
Justice Trivedi asked Sibal, who was arguing against the law, whether he was part of the opposition or the ruling political party when the PMLA was brought into force.
The Court was hearing pleas seeking reconsideration of its earlier judgment in Vijay Madanlal Choudhary v. Union of India, in which the validity of provisions of the PMLA was upheld.