The note addresses attachment of property under the PMLA where a...

The note addresses attachment of property under the PMLA where a bank asserted a prior bonafide encumbrance. It clarifies that a prior legitimate third-party interest permits enforcement of that interest ahead of PMLA attachment, with only the residue available for confiscation. It further clarifies jurisdiction: both the Appellate Tribunal and the Special Court may entertain claims by bonafide third parties, but once the confirming attachment order is final, confiscation ordered, or trial under the PMLA has commenced, adjudication of such third-party claims becomes the Special Courts domain. The appeals were dismissed.