https://www.taxtmi.com/caselaws?id=188268 Property acquired from bank-disbursed funds was treated as prima facie proceeds of crime because the underlying complaints disclosed scheduled offences, and a later amendment to the statutory schedule did not negate that character for the case. The Court also stated that attachment and confiscation under the money-laundering law could not be used to defeat a victim bank's prior recovery rights over mortgaged property, especially where the property had been financed through the bank's funds. Proceedings and the confirmation order were held unsustainable because they were taken in breach of an operative interim stay and without impleading or hearing the bank; the attachment and consequential proceedings were set aside, while the criminal prosecution remained unaffected. en-us Wed, 11 Jul 2012 00:00:00 +0530 Mon, 09 Oct 2017 09:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188268 Property acquired from bank-disbursed funds was treated as prima facie proceeds of crime because the underlying complaints disclosed scheduled offences, and a later amendment to the statutory schedule did not negate that character for the case. The Court also stated that attachment and confiscation under the money-laundering law could not be used to defeat a victim bank's prior recovery rights over mortgaged property, especially where the property had been financed through the bank's funds. Proceedings and the confirmation order were held unsustainable because they were taken in breach of an operative interim stay and without impleading or hearing the bank; the attachment and consequential proceedings were set aside, while the criminal prosecution remained unaffected. Case-Laws Money Laundering Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188268