Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could...
HC allowed the petition challenging the rejection of an application under Vera Samadhan Yojna, 2019. The court found the respondent's literal interpretation of the Amnesty Scheme inappropriate, particularly given the lack of prior intimation about interest shortfall. The HC quashed the order rejecting the application, directed restoration of the Amnesty Scheme benefits to the petitioner, and ordered refund of Rs. 4,78,833/- recovered from the petitioner's bank account, with 9% per annum interest from the date of recovery until repayment.
HC allowed the petition challenging the rejection of an application under Vera Samadhan Yojna, 2019. The court found the respondent's literal interpretation of the Amnesty Scheme inappropriate, particularly given the lack of prior intimation about interest shortfall. The HC quashed the order rejecting the application, directed restoration of the Amnesty Scheme benefits to the petitioner, and ordered refund of Rs. 4,78,833/- recovered from the petitioner's bank account, with 9% per annum interest from the date of recovery until repayment.
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