Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
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
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