Delhi High Court rules bribe-derived stock profits are illegal proceeds under India’s anti-money laundering law.

The Delhi High Court ruled that profits from investing bribe money in the stock market are proceeds of crime under India’s PMLA, stating the illicit origin of funds cannot be erased by market gains. In a November 3, 2025, judgment, Justices Anil Kshetarpal and Harish Vaidyanathan Shankar affirmed that money laundering is a continuing offense, encompassing investments and financial gains from tainted funds. The court upheld a Rs 122.74 crore Provisional Attachment Order by the Enforcement Directorate against M/s Prakash Industries Limited, which allegedly secured a coal block through fraud and manipulated share prices. The ruling emphasized that even intangible benefits like allocation letters obtained illegally constitute proceeds of crime.