GOVIND RAM vs The FEDERATION OF PAKISTAN through Secretary Finance Ss — 2022 PTD 634 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2022 PTD 634 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2022
Reporter: PTD
Parties: GOVIND RAM vs The FEDERATION OF PAKISTAN through Secretary Finance Ss
Provisions referred to: S. 3; S. 5; Anti-Money Laundering Act

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

GOVIND RAM VS The FEDERATION OF PAKISTAN through Secretary Finance Ss.3 & 5---Offence of money laundering---National Executive Committee to combat money laundering---Scope---Under the Anti-Money Laundering Act, 2010, a person is presumed to be guilty of offence of money laundering if he acquires, converts, possesses, uses or transfers property knowing or having reason to believe that such property is proceeds of crime or conceals or disguises the true nature, origin, location or if he holds or possesses on behalf of any other person any property with knowledge that such property is proceeds arising out of some offences and lastly participate and associates or conspires to commit or attempts to commit the commission of the acts specified and explained in S. 3 of the Anti-Money Laundering Act, 2010---Under S. 5 of the Act, National Executive Committee is required to be constituted by the Federal Government within thirty days of the commencement of the Act through notification in the official gazette and the committee is required to oversee such object which includes suspicious transaction and the finances that concerns with terrorism.

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