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 a PAO was upheld on the basis that available investigative material, including recovered bribe money and an unquashed FIR, established a prima facie case of money laundering; the appellant's contention that no crime was committed was rejected. The Tribunal directed that attachment must be limited to quantifiable proceeds of crime rather than the entire contract value, recognising legitimate manufacturing costs and expenses. The respondent was ordered to quantify the recoverable proceeds (focusing on the profit/illicit portion) and reassess the provisional attachment within the specified four week period.
Provisional attachment under a PAO was upheld on the basis that available investigative material, including recovered bribe money and an unquashed FIR, established a prima facie case of money laundering; the appellant's contention that no crime was committed was rejected. The Tribunal directed that attachment must be limited to quantifiable proceeds of crime rather than the entire contract value, recognising legitimate manufacturing costs and expenses. The respondent was ordered to quantify the recoverable proceeds (focusing on the profit/illicit portion) and reassess the provisional attachment within the specified four week period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
