Possession under prevention of money laundering Act: notice restrains transfer and requires custody of attached immovable property. The notice records that an immovable property provisionally attached and confirmed by the Adjudicating Authority has been taken into possession by an ... Summary
Possession under prevention of money laundering Act: notice restrains transfer and requires custody of attached immovable property.
The notice records that an immovable property provisionally attached and confirmed by the Adjudicating Authority has been taken into possession by an authorized officer; possession remains at the disposal of the enforcement agency and the property must be kept intact. The notice restrains all persons from transferring, charging, selling, gifting, mortgaging, pledging or otherwise dealing in the property and from receiving the property by any of those means until further order.
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