Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
PMLA provisional attachment over PACL-linked properties could not be continued where the Supreme Court had already created a special Article 142 restitution framework for investors. The Court noted that enforcement powers are not extinguished by judicial directions, but they must operate consistently with the court-prescribed mechanism. It further held that restoration under the PMLA is only a limited exception dependent on Special Court satisfaction and cannot justify parallel continuation of attachment when the special process is available. Because the attachment had already served any preservative purpose and prolonged pendency was prejudicing investor interests, the matter was directed to proceed under the Supreme Court-created framework, and the attachment orders were set aside.
PMLA provisional attachment over PACL-linked properties could not be continued where the Supreme Court had already created a special Article 142 restitution framework for investors. The Court noted that enforcement powers are not extinguished by judicial directions, but they must operate consistently with the court-prescribed mechanism. It further held that restoration under the PMLA is only a limited exception dependent on Special Court satisfaction and cannot justify parallel continuation of attachment when the special process is available. Because the attachment had already served any preservative purpose and prolonged pendency was prejudicing investor interests, the matter was directed to proceed under the Supreme Court-created framework, and the attachment orders were set aside.
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