Seizure of Indian Rupees under PMLA, 2002 due to alleged ...

Indian Rupees seized under PMLA due to alleged Hawala involvement. Appellant denies FIR/ECIR link but fails to explain Rs.15 Crore source. Appeal dismissed, evidence strong.

Case Laws Money Laundering

August 8, 2024

Seizure of Indian Rupees under PMLA, 2002 due to alleged involvement in Hawala transaction. Appellant argued not being accused in FIR or ECIR, thus seizure u/s 17 not valid. However, evidence indicated Hawala transaction of Rs.15 Crore and appellant's failure to explain the source of funds. Statement u/s 50 implicated appellant in facilitating transaction. Second argument on bank withdrawals not clarifying legitimate use of funds for foreign exchange. Appellant's involvement in large transactions not substantiated. Appeal dismissed by Appellate Tribunal.

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Seizure of Indian Rupees under PMLA, 2002 due to alleged ...

Indian Rupees seized under PMLA due to alleged Hawala involvement. Appellant denies FIR/ECIR link but fails to explain Rs.15 Crore source. Appeal dismissed, evidence strong.

Case Laws Money Laundering

August 8, 2024

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