Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Provisional attachment of property under the PMLA was challenged on the ground that the predicate (scheduled offence) proceedings were not maintainable against certain persons and, therefore, the attached property ought to be released. It was held that where a principal accused in the scheduled offence remains neither quashed nor discharged/acquitted, property linked to the alleged proceeds of crime cannot be released on that basis and can continue to be attached while the predicate proceedings are pending. It was further held that attachment under the PMLA is not confined to persons named as accused in the scheduled offence and extends to any person involved in processes connected with proceeds of crime. The appeal was dismissed. - AT
Provisional attachment of property under the PMLA was challenged on the ground that the predicate (scheduled offence) proceedings were not maintainable against certain persons and, therefore, the attached property ought to be released. It was held that where a principal accused in the scheduled offence remains neither quashed nor discharged/acquitted, property linked to the alleged proceeds of crime cannot be released on that basis and can continue to be attached while the predicate proceedings are pending. It was further held that attachment under the PMLA is not confined to persons named as accused in the scheduled offence and extends to any person involved in processes connected with proceeds of crime. The appeal was dismissed. - AT
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