Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
The dominant issue was whether property acquired prior to the commission of the scheduled offence can be provisionally attached as "proceeds of crime" on an equivalent value basis under the PMLA. Interpreting the definition as comprising multiple limbs, the forum held that the "equivalent value" limb permits attachment where the actual proceeds are untraceable or unavailable because they were siphoned off or vanished; a narrower reading would defeat the Act's object by enabling offenders to frustrate recovery. Applying binding precedent and rejecting contrary authority, the provisional attachment was upheld and the appeals were dismissed. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
