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...
Writ petition partly allowed. Order of provisional attachment of petitioner's immovable properties purchased prior to 2014 u/s 5(1) of PML Act set aside as without jurisdiction. Properties acquired before commission of alleged offence cannot be attached as proceeds of crime under PML Act. Though statutory remedies exist against provisional attachment orders, writ petition maintainable if order wholly without jurisdiction. HC observed provisional attachment order cannot be challenged before any authority, but Adjudicating Authority can examine legality only from date of its order, not provisional order date. Hence, if provisional attachment without jurisdiction, writ remedy available.
Writ petition partly allowed. Order of provisional attachment of petitioner's immovable properties purchased prior to 2014 u/s 5(1) of PML Act set aside as without jurisdiction. Properties acquired before commission of alleged offence cannot be attached as proceeds of crime under PML Act. Though statutory remedies exist against provisional attachment orders, writ petition maintainable if order wholly without jurisdiction. HC observed provisional attachment order cannot be challenged before any authority, but Adjudicating Authority can examine legality only from date of its order, not provisional order date. Hence, if provisional attachment without jurisdiction, writ remedy available.
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