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The AT dismissed the appeal challenging property attachment under PMLA. The tribunal held that ED need not conduct independent investigation into predicate offences, only identifying glaring mistakes in police/CBI investigations while investigating money laundering. Properties acquired before PMLA enforcement remain attachable as the relevant date for determining scheduled offence is when tainted property is projected as untainted, not acquisition date. PC Act provisions apply retrospectively for money laundering purposes regardless of asset acquisition timing. The court found sufficient evidence of disproportionate assets and money laundering, with appellant failing to prove legal income sources. Section 5(1) conditions were satisfied given apprehension of property alienation following FIR registration, and requirements under clauses (a) and (b) were fulfilled as appellant possessed alleged proceeds of crime with likelihood of concealment.
The AT dismissed the appeal challenging property attachment under PMLA. The tribunal held that ED need not conduct independent investigation into predicate offences, only identifying glaring mistakes in police/CBI investigations while investigating money laundering. Properties acquired before PMLA enforcement remain attachable as the relevant date for determining scheduled offence is when tainted property is projected as untainted, not acquisition date. PC Act provisions apply retrospectively for money laundering purposes regardless of asset acquisition timing. The court found sufficient evidence of disproportionate assets and money laundering, with appellant failing to prove legal income sources. Section 5(1) conditions were satisfied given apprehension of property alienation following FIR registration, and requirements under clauses (a) and (b) were fulfilled as appellant possessed alleged proceeds of crime with likelihood of concealment.
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