The HC set aside the order confiscating appellant's properties ...

Overturning Excessive Property Seizure for Money Laundering: Court Upholds Appellant's Ownership Rights.

December 27, 2024

Case Laws Money Laundering HC

The HC set aside the order confiscating appellant's properties under Schedule 'A', recognizing appellant's ownership rights. It held that the fixed deposit furnished by late Sri. G.E. Veerabharappa to the extent of Rs. 1,72,40,951/- should have been considered the asset involved in money laundering, instead of confiscating appellant's properties worth more than that amount u/s 8(5) PMLA. The appeal against the confiscation order was allowed.

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The HC set aside the order confiscating appellant's properties ...

Overturning Excessive Property Seizure for Money Laundering: Court Upholds Appellant's Ownership Rights.

December 27, 2024

Case Laws Money Laundering HC

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