9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (9) TMI 67 - AT - Money LaunderingMoney Laundering - attachment of the properties - appellant has raised only one ground to press the appeal that the property was acquired in 1998 i.e., much prior to the date of commission of offence, cannot be attached - HELD THAT - The contention of appellant in this regard cannot be agreed upon - The Hon ble Supreme Court of India in case of VIJAY MADANLAL CHOUDHARY ORS. VERSUS UNION OF INDIA ORS. 2022 (7) TMI 1316 - SUPREME COURT held that the other assets of the culprit can be attached, as value thereof, in absence of non- availability of direct proceeds of crime. The property of appellant is rightly confirmed for attachment by the Ld. Adjudicating Authority vide the impugned order, in absence of any direct proceeds of crime in possession of the appellant, as she received the share from the proceeds of crime along with her other family members as mentioned in the flow chart at page 41 of the impugned order. Therefore, in view of the said legal position the present appeal needs to be dismissed being devoid of any merits. Appeal dismissed.
Issues:
Appeal against the order confirming attachment of properties under the Prevention of Money Laundering Act, 2002. Analysis: 1. The appellant challenged the attachment of her property, arguing it was acquired before the alleged offense and not linked to proceeds of crime. Citing legal precedents, the appellant contended that the property could not be attached. The appellant relied on judgments such as Satish Motila Bidri v. Union of India and Pavana Dibbur v. E.D. to support her argument that properties acquired before the offense cannot be attached. 2. The respondent, Enforcement Directorate (ED), argued that the appellant was part of a conspiracy to layer proceeds of crime within the family. ED contended that the appellant received proceeds of crime through family members, as detailed in the impugned order. The ED emphasized the familial connections between the appellant and the accused persons to establish the link to the proceeds of crime. 3. The Tribunal considered the arguments and legal precedents cited by both parties. Referring to the judgment in Vijay Madanlal Chaudhary v. Union of India, the Tribunal held that assets of the culprit can be attached even in the absence of direct proceeds of crime. The Tribunal highlighted the broad definition of proceeds of crime and property under the Prevention of Money Laundering Act, allowing for the confiscation of property derived indirectly from crime. 4. Relying on the legal position outlined by the Supreme Court, the Tribunal upheld the attachment of the appellant's property. The Tribunal concluded that the appellant's property was rightly confirmed for attachment, considering the familial involvement in the proceeds of crime. The appeal was dismissed as devoid of merits, and the impugned order confirming the attachment was upheld. 5. The Tribunal emphasized the legislative intent behind the Prevention of Money Laundering Act to combat the laundering of proceeds of crime. The judgment highlighted the objective of reaching proceeds of crime held by any individual, as stated in previous legal cases. The dismissal of the appeal affirmed the attachment of the appellant's property, in line with the legal provisions and precedents cited. 6. The Tribunal's decision to dismiss the appeal and uphold the attachment order was based on the interpretation of the law and the factual circumstances of the case. The judgment clarified that the appellant's property was rightfully attached due to its link to the proceeds of crime, as established through familial connections and the flow of funds detailed in the impugned order.
|
