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...
Provisional attachment under the PMLA was confirmed on the basis that cumulative material - statements under section 50(2) PMLA, searches, bank and property linkages and a disclosed modus operandi - established receipt and layering of proceeds of crime, with a statement under the Income Tax Act admitted only as corroboration. Objection that Regulation 3 language requirements were breached was rejected on factual findings that English translations and gists were furnished and witnesses understood Bengali. The Tribunal construed provisional attachment as permissible during investigation or related proceedings and upheld attachment of assets in individual and corporate names where material showed beneficiaries of laundering through corporate vehicles.
Provisional attachment under the PMLA was confirmed on the basis that cumulative material - statements under section 50(2) PMLA, searches, bank and property linkages and a disclosed modus operandi - established receipt and layering of proceeds of crime, with a statement under the Income Tax Act admitted only as corroboration. Objection that Regulation 3 language requirements were breached was rejected on factual findings that English translations and gists were furnished and witnesses understood Bengali. The Tribunal construed provisional attachment as permissible during investigation or related proceedings and upheld attachment of assets in individual and corporate names where material showed beneficiaries of laundering through corporate vehicles.
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