Deposit Made Under Section 21(5) MMDRA For Illegal Mining Not "Proceeds Of Crime" Under PMLA : SC Expresses Prima Facie View

The Supreme Court has expressed a prima facie view that deposit made under Section 21(5) of the Mines and Minerals Development and Regulation Act(MMDRA) for unlawful mining cannot be treated as "proceeds of crime" under the Prevention of Money Laundering Act(PMLA).A bench comprising Justices AM Khanwilkar and Dinesh Maheshwari made this observation while hearing an application seeking to...