Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
The note addresses the scope of provisional attachment and confiscation under the PMLA, holding that property need not be held by an accused to be attachable if it is derived from or represents proceeds of crime; mere possession, joint or individual, suffices as a triggering circumstance. It explains the procedural burden under the notice regime to prove legitimate source under Section 8(1) is judged on the civil standard of preponderance of probabilities, and that documentary admissions and related convictions can sustain attachment where the person served fails to discharge that onus. The operative effect is continued provisional attachment where legitimate source is not demonstrated.
The note addresses the scope of provisional attachment and confiscation under the PMLA, holding that property need not be held by an accused to be attachable if it is derived from or represents proceeds of crime; mere possession, joint or individual, suffices as a triggering circumstance. It explains the procedural burden under the notice regime to prove legitimate source under Section 8(1) is judged on the civil standard of preponderance of probabilities, and that documentary admissions and related convictions can sustain attachment where the person served fails to discharge that onus. The operative effect is continued provisional attachment where legitimate source is not demonstrated.
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