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The AT upheld the provisional attachment order under the PMLA against the appellants, who were found to have amassed illegal assets beyond their lawful income by misusing official positions and employing front companies for layering proceeds of crime. The tribunal held that the limitation of proceeds of crime to the amount initially investigated or charged by CBI/ED does not preclude further investigation or prosecution of additional illicit assets discovered later. Reliance on the Supreme Court precedent confirmed that the scope of proceeds of crime is not confined to initial calculations but is subject to determination by the PMLA court after full trial proceedings. The appeal was dismissed, with liberty granted to both parties to raise all relevant issues before the Special Judge, PMLA Court during final arguments, preserving the right to contest evidentiary matters and the quantum of proceeds of crime.
The AT upheld the provisional attachment order under the PMLA against the appellants, who were found to have amassed illegal assets beyond their lawful income by misusing official positions and employing front companies for layering proceeds of crime. The tribunal held that the limitation of proceeds of crime to the amount initially investigated or charged by CBI/ED does not preclude further investigation or prosecution of additional illicit assets discovered later. Reliance on the Supreme Court precedent confirmed that the scope of proceeds of crime is not confined to initial calculations but is subject to determination by the PMLA court after full trial proceedings. The appeal was dismissed, with liberty granted to both parties to raise all relevant issues before the Special Judge, PMLA Court during final arguments, preserving the right to contest evidentiary matters and the quantum of proceeds of crime.
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