The presumption under Section 23 of the Prevention of Money Laundering Act, 2002 applies:
PMLA s.23 draws no line by place, value or mode of payment: it reaches the "remaining transactions" of any inter-connected chain once one is proved to be involved in…
Choose your answer
The presumption under Section 23 of the Prevention of Money Laundering Act, 2002 applies:
Answer and explanation
Correct answer C
PMLA s.23 draws no line by place, value or mode of payment: it reaches the "remaining transactions" of any inter-connected chain once one is proved to be involved in money-laundering. The one-crore figure belongs to the bail proviso in s.45(1), not to s.23.