Money laundering property attachment and third-party encumbrance rights clarified; prior bona fide interests enforceable before confiscation, appeals ...
Profiteering in construction services for failure to pass input tax credit resulted in repayment exceeding the commensurate benefit and closure of pro...
Attachment of mortgaged property under the PMLA was not invalid merely because a secured creditor held a prior charge. The Tribunal applied a harmonious construction between the PMLA and secured creditor regimes, holding that a prior mortgage does not by itself bar attachment, while the creditor's bona fide security interest is not extinguished and may be pursued in accordance with law, including before the Special Court. It also rejected the challenge that the property could not be attached because it pre-dated the alleged criminal activity, finding on the record that the relevant criminal conduct commenced before the property was acquired. The attachment was therefore sustained.
Attachment of mortgaged property under the PMLA was not invalid merely because a secured creditor held a prior charge. The Tribunal applied a harmonious construction between the PMLA and secured creditor regimes, holding that a prior mortgage does not by itself bar attachment, while the creditor's bona fide security interest is not extinguished and may be pursued in accordance with law, including before the Special Court. It also rejected the challenge that the property could not be attached because it pre-dated the alleged criminal activity, finding on the record that the relevant criminal conduct commenced before the property was acquired. The attachment was therefore sustained.
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