The case involves a challenge to the attachment of properties ...

Appellate Tribunal upholds property attachment as equivalent to "proceeds of crime" due to vague acquisition details and low income.

August 13, 2024

Case Laws Money Laundering AT

The case involves a challenge to the attachment of properties alleged to be proceeds of crime. The Adjudicating Authority found that some properties were of equivalent value to the proceeds. The judgment in a related case clarified the definition of "proceeds of crime," including properties of equivalent value. The appellant failed to disclose the property's source and provided vague statements about acquisition. The Adjudicating Authority considered the appellant's income tax return, showing low income. The appeal was dismissed by the Appellate Tribunal due to lack of merit in the grounds raised.

View Source

← Previous Next →

The case involves a challenge to the attachment of properties ...

Appellate Tribunal upholds property attachment as equivalent to "proceeds of crime" due to vague acquisition details and low income.

August 13, 2024

Case Laws Money Laundering AT

You may also like:

The AT upheld the attachment of properties acquired prior to the commission of the alleged crime. The proceeds of crime were siphoned off by diverting and layering, thus...

AT determined that provisional property attachment under PMLA was invalid where appellants lacked possession of crime proceeds. While "proceeds of crime" broadly...

Money laundering case involving attachment of properties. Appellant argued property was acquired prior to offense, hence cannot be attached. Court rejected contention,...

The appellant failed to prove the legitimate source for acquisition of the subject property, and the Appellate Tribunal upheld the Provisional Attachment Order treating...

The AT upheld the provisional attachment order over the proceeds of crime. Despite the lapse of 180 days u/s 5(3) of PMLA, the period from 15.03.2020 to 28.02.2022 was...

AT upheld provisional attachment order u/s PMLA, 2002 due to illegal foreign remittances made through fake import documents. Prosecution complaints pending,...

Money Laundering - Proceeds of crime - attachment of moveable property of the appellant - The tribunal analyzed PMLA Section 5(1), determining that attachment requires...

The Appellate Tribunal addressed issues related to money laundering, proceeds of crime from smuggling narcotics and running extortion rackets. The case involved double...

The provisional attachment order treating the appellant's land property as 'proceeds of crime' was challenged on the ground of time limitation of 180 days. It was held...

Provisional attachment - Prevention of Money Laundering - PMLA - When an attempt is made to project proceeds of crime as untainted money and also when the burden of...

The Appellate Tribunal held that the definition of 'proceeds of crime' encompasses not only the property derived or obtained directly or indirectly from criminal...

The AT upheld the provisional attachment order u/s 5 of the PMLA, rejecting the appellant's contentions. It held that there was sufficient reason to believe the...

Property Liable to Attachment - proceeds of crime - The burden of proving that proceeds of crime were untainted property was applicable not only to prosecution and...

AT dismissed appeals challenging provisional attachment orders in a money laundering case involving large-scale extortion in coal transportation. Appellants failed to...

Appellants challenged the provisional attachment of their immovable and movable properties under the Prevention of Money Laundering Act (PMLA), alleging lack of evidence...

Quick Updates: