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...
The article addresses validity of cash seizures under the CGST framework, holding that seizure under the statute requires a recorded 'reason to believe' that goods, documents, books or things relevant to proceedings are secreted at a place; absence of such reasons rendered the cash seizure arbitrary and unlawful. It further explains that failure to issue the statutorily mandated notice within the six month period obliges return of seized items, and that transferring seized cash to another agency without statutory authority compounds illegality; consequent remedy ordered was release and payment with interest.
The article addresses validity of cash seizures under the CGST framework, holding that seizure under the statute requires a recorded 'reason to believe' that goods, documents, books or things relevant to proceedings are secreted at a place; absence of such reasons rendered the cash seizure arbitrary and unlawful. It further explains that failure to issue the statutorily mandated notice within the six month period obliges return of seized items, and that transferring seized cash to another agency without statutory authority compounds illegality; consequent remedy ordered was release and payment with interest.
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