Taking possession under PMLA prohibits transfer or encumbrance of attached property and mandates deposit of income to enforcement account. The notice declares constructive possession of an immovable productive asset under s.8(4) PMLA, following provisional attachment under s.5(1) and ... Summary
Taking possession under PMLA prohibits transfer or encumbrance of attached property and mandates deposit of income to enforcement account.
The notice declares constructive possession of an immovable productive asset under s.8(4) PMLA, following provisional attachment under s.5(1) and confirmation by the Adjudicating Authority under s.6, places the property at the Directorate of Enforcement's disposal, requires deposit of gross income and monetary benefits into the Directorate's account, and prohibits all persons from transferring, charging, acquiring or otherwise dealing with the attached property until further order.
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