https://www.taxtmi.com/caselaws?id=346696 Immovable properties acquired and mortgaged before the alleged criminal activity could not be provisionally attached under PMLA because no material showed a nexus with proceeds of crime; in the absence of such nexus, the assets were not properties involved in money laundering and the attachment failed. Secured creditors holding prior mortgage charges were entitled to statutory priority under the SARFAESI regime and later amendments, and that priority could not be displaced where the banks were bona fide parties and not implicated in laundering; the attachment against the secured assets was therefore unsustainable. en-us Fri, 14 Jul 2017 00:00:00 +0530 Tue, 22 Aug 2017 07:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346696 Immovable properties acquired and mortgaged before the alleged criminal activity could not be provisionally attached under PMLA because no material showed a nexus with proceeds of crime; in the absence of such nexus, the assets were not properties involved in money laundering and the attachment failed. Secured creditors holding prior mortgage charges were entitled to statutory priority under the SARFAESI regime and later amendments, and that priority could not be displaced where the banks were bona fide parties and not implicated in laundering; the attachment against the secured assets was therefore unsustainable. Case-Laws Money Laundering Fri, 14 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346696