Published on : 03 Nov 2025, 2:31 pm 3 min read

The Delhi High Court has held that appreciation of share value based on illegal activity amounts to proceeds of crime under the Prevention of Money Laundering Act, 2002 (PMLA) [Directorate of Enforcement v M/s Prakash Industries Ltd] .

A Division Bench of Justices Anil Kshetarpal and Harish Vaidyanathan Shankar said that the offence of money laundering includes any process or activity connected with proceeds of crime, including subsequent layering or projection of illicit gains.

Hence, the same can be attached by the Enforcement Directorate (ED), the Court said.

“The usage of the word “indirectly” while defining proceeds of crime under PMLA, establishes the intentional expansive definition provided thereunder, which goes on

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