HC quashes money laundering case against petitioner who merely agreed to sell property to person accused under PMLA

FEMA, BANKING amp; INSURANCE : Where One 'R' floated a financial establishment and collected deposits from public and subsequently he entered into an agreement with petitioner for purchase of land and paid an advance amount to petitioner out of money deposited by public, even though, 'R' was an accused of predicate offence, mere fact that petitioner agreed to sell his property to 'R', could not, bring him into net of section 3

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