Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
HC dismissed the criminal miscellaneous petition challenging property attachment under PMLA. The court held that the petitioner lacks legal standing as a 'claimant' since the trade loss suffered does not constitute a quantifiable loss under Section 8 of PMLA. The Bulgarian court order cannot be executed in India due to absence of reciprocal treaty. The petitioner failed to demonstrate legitimate interest in the attached properties, and consequently, the restoration claim was rejected, upholding the Special Court's original order.
HC dismissed the criminal miscellaneous petition challenging property attachment under PMLA. The court held that the petitioner lacks legal standing as a 'claimant' since the trade loss suffered does not constitute a quantifiable loss under Section 8 of PMLA. The Bulgarian court order cannot be executed in India due to absence of reciprocal treaty. The petitioner failed to demonstrate legitimate interest in the attached properties, and consequently, the restoration claim was rejected, upholding the Special Court's original order.
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