Exclusion of limitation period: pandemic suspension plus debtor acknowledgement can extend limitation, requiring fresh factfinding on guarantee invoca...
Provisional attachment under the Prevention of Money Laundering Act was confirmed where seized institutional records, mark sheet registers and corroborative documentary information established large scale issuance of forged degrees and diversion of funds as proceeds of crime; appellants served notice under section 8(1) failed to satisfactorily disclose legitimate sources for attached movable and immovable properties, so the attachment was sustained. The absence of recovery of individual forged degree certificates did not negate the seizure-based foundation for attachment. Documents filed in rejoinder amounted to new evidence and were inadmissible without formal application and Tribunal permission; appeals dismissed.
Provisional attachment under the Prevention of Money Laundering Act was confirmed where seized institutional records, mark sheet registers and corroborative documentary information established large scale issuance of forged degrees and diversion of funds as proceeds of crime; appellants served notice under section 8(1) failed to satisfactorily disclose legitimate sources for attached movable and immovable properties, so the attachment was sustained. The absence of recovery of individual forged degree certificates did not negate the seizure-based foundation for attachment. Documents filed in rejoinder amounted to new evidence and were inadmissible without formal application and Tribunal permission; appeals dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
