AT dismissed appeals challenging provisional attachment orders ...

Appellate Tribunal Upholds Property Attachments in Coal Transportation Money Laundering Case Under PMLA Section 5.

January 28, 2025

Case Laws Money Laundering AT

AT dismissed appeals challenging provisional attachment orders in a money laundering case involving large-scale extortion in coal transportation. Appellants failed to prove legitimate sources for acquiring 52 properties through alleged layering of proceeds of crime. Claims of being bona fide purchasers were rejected due to inability to demonstrate valid cash sources. Court upheld that properties acquired before FIR registration could be attached as criminal activities predated FIR. Arguments regarding absence of predicate offense were dismissed, citing established Supreme Court precedents. The provisional attachment was confirmed as appellants were either accused or in possession of proceeds of crime, with sufficient reasons provided in show cause notices.

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AT dismissed appeals challenging provisional attachment orders ...

Appellate Tribunal Upholds Property Attachments in Coal Transportation Money Laundering Case Under PMLA Section 5.

January 28, 2025

Case Laws Money Laundering AT

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