The text analyses provisional attachments under the PMLA,...

The text analyses provisional attachments under the PMLA, focusing on attachment of properties as proceeds of crime or property equivalent in value and the burden on alleged third parties to explain lawful source of funds; where explanations and documentary corroboration are absent, attachments were sustained. It identifies instances where non-service of the notice required by the second proviso to Section 8(1) vitiated confirmation of attachment and led to allowance of an appeal. It clarifies that acquittal in the predicate offence does not automatically release attached property if money laundering proceedings continue, and stresses inadequate explanations for cash purchases and third party parking arrangements.

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