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The AT refused the appellant's challenge to provisional attachments effected by the ED, holding that the aggregate alleged proceeds of crime (POC) attributable to the accused persons substantially exceed the quantum of assets attached to date. The Tribunal determined that the relative increase in attached properties, even if limited and characterized as direct or indirect POC, does not warrant release of the appellant's assets because the risk of dissipation and the continuing nexus to the alleged criminal receipts remains. On that basis the appellant's application for interim release of the impugned properties was dismissed and no relief was granted.
The AT refused the appellant's challenge to provisional attachments effected by the ED, holding that the aggregate alleged proceeds of crime (POC) attributable to the accused persons substantially exceed the quantum of assets attached to date. The Tribunal determined that the relative increase in attached properties, even if limited and characterized as direct or indirect POC, does not warrant release of the appellant's assets because the risk of dissipation and the continuing nexus to the alleged criminal receipts remains. On that basis the appellant's application for interim release of the impugned properties was dismissed and no relief was granted.
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