The AT dismissed the appeal. The appellant company was found to ...

Corporate Veil Pierced: Laundering Front Firm Loses Appeal Against Asset Seizure.

December 30, 2024

Case Laws Money Laundering AT

The AT dismissed the appeal. The appellant company was found to be a sham entity established to launder proceeds of crime by an accused, Mr. Anurag Gupta. The ED complied with procedural requirements u/ss 5, 17 and 20 of PMLA for retaining seized properties prima facie involved in money laundering. The offence being independent, the appellant could be proceeded against despite not being named in the scheduled offence FIR/chargesheet, as it possessed unexplained proceeds of crime.

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The AT dismissed the appeal. The appellant company was found to ...

Corporate Veil Pierced: Laundering Front Firm Loses Appeal Against Asset Seizure.

December 30, 2024

Case Laws Money Laundering AT

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