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The AT dismissed the appeal and upheld the DRT orders recognizing PMLA-based provisional attachment of impugned properties while noting protection of the appellant's secured interest. The Tribunal held the attachment operates to preserve alleged proceeds of crime and affirmed that secured creditors cannot assert priority over properties already attached under PMLA. The appellant was granted liberty to pursue relief before the Special Judge, PMLA under Sections 8(7) and 8(8) of PMLA to stake any claim for release of attached properties. The appeal and all pending applications are disposed of accordingly.
The AT dismissed the appeal and upheld the DRT orders recognizing PMLA-based provisional attachment of impugned properties while noting protection of the appellant's secured interest. The Tribunal held the attachment operates to preserve alleged proceeds of crime and affirmed that secured creditors cannot assert priority over properties already attached under PMLA. The appellant was granted liberty to pursue relief before the Special Judge, PMLA under Sections 8(7) and 8(8) of PMLA to stake any claim for release of attached properties. The appeal and all pending applications are disposed of accordingly.
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