Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
Provisional attachment under the PMLA requires recorded reasons to believe, based on material, that the property involved is likely to be concealed, transferred or otherwise dealt with so as to frustrate proceedings. The Tribunal held that the mortgaged properties could not be attached on the material before it, because they were already under the banks' possession or auction process, and there was no allegation or evidence of collusion by the banks. A later claim that the properties themselves were proceeds of crime was rejected as unsupported by the record. The confirmation of attachment was therefore set aside insofar as it concerned the appellant banks.
Provisional attachment under the PMLA requires recorded reasons to believe, based on material, that the property involved is likely to be concealed, transferred or otherwise dealt with so as to frustrate proceedings. The Tribunal held that the mortgaged properties could not be attached on the material before it, because they were already under the banks' possession or auction process, and there was no allegation or evidence of collusion by the banks. A later claim that the properties themselves were proceeds of crime was rejected as unsupported by the record. The confirmation of attachment was therefore set aside insofar as it concerned the appellant banks.
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