The Appellate Tribunal addressed issues related to money ...

Proceeds of crime shifted to different property, leading to double attachment. Violation of FSI not relevant. Attachment quashed.

Case Laws     Money Laundering

June 12, 2024

The Appellate Tribunal addressed issues related to money laundering, proceeds of crime from smuggling narcotics and running extortion rackets. The case involved double attachment of properties under the Fugitive Economic Offenders Act, 2018. The Tribunal held that the attachment of properties was not justified as it led to double attachment, contrary to legal principles. The respondents' attempt to justify attachment based on alleged violations of Floor Space Index (FSI) was deemed inappropriate as FSI violations were not relevant to the case. The Tribunal emphasized that for property to be confirmed as involved in money laundering, the Adjudicating Authority must record a finding to that effect. Since the property in question had already been attached in another context, the Tribunal quashed the impugned orders of attachment and allowed the appeal.

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