https://www.taxtmi.com/caselaws?id=193978 Provisional attachment under the Prevention of Money-Laundering Act, 2002 may be sustained under the second proviso to Section 5(1) even before a final report under Section 173 CrPC is filed, where the authorised officer has reason to believe the property is involved in money-laundering and non-attachment may frustrate proceedings. The Adjudicating Authority under Section 8(2) is not confined to mechanically confirming attachment; it must consider the reply, hear affected persons, and determine whether all or any attached properties are actually involved in money-laundering. Property not shown to be proceeds of crime cannot be confirmed, and notice must also go to persons claiming an interest, including financial institutions. en-us Mon, 17 Nov 2014 00:00:00 +0530 Fri, 10 Aug 2018 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193978 Provisional attachment under the Prevention of Money-Laundering Act, 2002 may be sustained under the second proviso to Section 5(1) even before a final report under Section 173 CrPC is filed, where the authorised officer has reason to believe the property is involved in money-laundering and non-attachment may frustrate proceedings. The Adjudicating Authority under Section 8(2) is not confined to mechanically confirming attachment; it must consider the reply, hear affected persons, and determine whether all or any attached properties are actually involved in money-laundering. Property not shown to be proceeds of crime cannot be confirmed, and notice must also go to persons claiming an interest, including financial institutions. Case-Laws Money Laundering Mon, 17 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193978