Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
The provisional attachment order treating the appellant's land property as 'proceeds of crime' was challenged on the ground of time limitation of 180 days. It was held that even if the appellant is not an accused but holds the 'proceeds of crime', and even if the property is not directly or indirectly obtained from the crime but is of the value thereof, it would fall under the definition of 'proceeds of crime' and can be subjected to seizure/attachment. Regarding the provisional attachment lapsing after 180 days, reliance was placed on a Telangana High Court judgment where the period of 180 days was counted after excluding the COVID-19 period from 15.03.2020 till 28.02.2022, as notified by the Government. The main allegation involved extracting money from 51 students for arranging visas and admissions in Australia, amounting to Rs.7.56 crores, which was treated as 'proceeds of crime'. The investigation revealed the involvement of certain individuals in generating this money through a scheduled offence. The circular transaction was found to be created to project the 'proceeds of crime' as untainted. The appeal was dismissed.
The provisional attachment order treating the appellant's land property as 'proceeds of crime' was challenged on the ground of time limitation of 180 days. It was held that even if the appellant is not an accused but holds the 'proceeds of crime', and even if the property is not directly or indirectly obtained from the crime but is of the value thereof, it would fall under the definition of 'proceeds of crime' and can be subjected to seizure/attachment. Regarding the provisional attachment lapsing after 180 days, reliance was placed on a Telangana High Court judgment where the period of 180 days was counted after excluding the COVID-19 period from 15.03.2020 till 28.02.2022, as notified by the Government. The main allegation involved extracting money from 51 students for arranging visas and admissions in Australia, amounting to Rs.7.56 crores, which was treated as 'proceeds of crime'. The investigation revealed the involvement of certain individuals in generating this money through a scheduled offence. The circular transaction was found to be created to project the 'proceeds of crime' as untainted. The appeal was dismissed.
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