Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
The definition of proceeds of crime is broad enough to cover property equivalent in value to assets derived from scheduled offences, permitting attachment where original proceeds are unavailable. When an appeal under the Appellate Tribunal is pending against an order under Section 8(3) PMLA, the Special Court should not decide an application under Section 8(7) PMLA; a deemed embargo and the doctrine of merger require deferral, and the Special Court's allowance of such an application was set aside. The appellant's Section 8(8) remedy was correctly dismissed for failure to show quantifiable loss. The confiscation vesting in the Central Government is absolute, and the appeal before the Appellate Tribunal was restored for merits.
The definition of proceeds of crime is broad enough to cover property equivalent in value to assets derived from scheduled offences, permitting attachment where original proceeds are unavailable. When an appeal under the Appellate Tribunal is pending against an order under Section 8(3) PMLA, the Special Court should not decide an application under Section 8(7) PMLA; a deemed embargo and the doctrine of merger require deferral, and the Special Court's allowance of such an application was set aside. The appellant's Section 8(8) remedy was correctly dismissed for failure to show quantifiable loss. The confiscation vesting in the Central Government is absolute, and the appeal before the Appellate Tribunal was restored for merits.
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