AT upheld provisional attachment order of bank accounts in money ...

Teacher Recruitment Scam: PMLA Section 5 Attachment Order Upheld as Directors Fail to Justify Suspicious Bank Transactions

February 4, 2025

Case Laws Money Laundering AT

AT upheld provisional attachment order of bank accounts in money laundering case involving unfair teacher recruitment. Investigation revealed unexplained large transactions and suspicious fund transfers in accounts of SKP Enterprises. Directors except appellant were found to be dummy, with 10% shareholder making disproportionate transfers. Appellant failed to justify transactions or provide legitimate business documentation. Violations established under Prevention of Corruption Act and IPC sections covering corruption, cheating, and forgery. Court found sufficient grounds under PMLA 2002 to maintain attachment given unexplained financial flows and connection to proceeds of corrupt recruitment practices. Appeal dismissed due to lack of evidence showing legitimate fund sources.

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AT upheld provisional attachment order of bank accounts in money ...

Teacher Recruitment Scam: PMLA Section 5 Attachment Order Upheld as Directors Fail to Justify Suspicious Bank Transactions

February 4, 2025

Case Laws Money Laundering AT

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