#PMLA proceedings

Madras High Court rules that retention of a Fixed Deposit Receipt (FDR) after quashing of the predicate offence and PMLA proceedings violates Article 14, directing its return with accrued interest. The judgment reinforces that conditional securities under lookout circulars cannot be retained without legal basis, impacting enforcement agencies' compliance with court orders.

Madras High Court sets aside a PMLA cognizance order for failure to issue the mandatory pre-cognizance notice under BNSS Section 223(1), reinforcing procedural fairness in criminal proceedings. The ruling mandates strict adherence to notice requirements before taking cognizance, impacting PMLA and other criminal cases.