https://www.taxtmi.com/caselaws?id=348877 Under the PMLA adjudication framework, attachment cannot be confirmed without notice and hearing to a secured creditor whose prior mortgage interest is directly affected. Failure to give the bank an opportunity to establish that the property is unconnected with money laundering invalidates the attachment. Property acquired before the alleged scheduled offence and genuinely mortgaged to a bank cannot be treated as proceeds of crime without a demonstrated nexus to criminal activity. Where the bank is a bona fide secured creditor and the loan funds are not tainted assets, its secured interest and pre-existing acquisition cannot be displaced on suspicion alone; the provisional attachment is therefore unsustainable. en-us Mon, 18 Sep 2017 00:00:00 +0530 Tue, 03 Oct 2017 06:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348877 Under the PMLA adjudication framework, attachment cannot be confirmed without notice and hearing to a secured creditor whose prior mortgage interest is directly affected. Failure to give the bank an opportunity to establish that the property is unconnected with money laundering invalidates the attachment. Property acquired before the alleged scheduled offence and genuinely mortgaged to a bank cannot be treated as proceeds of crime without a demonstrated nexus to criminal activity. Where the bank is a bona fide secured creditor and the loan funds are not tainted assets, its secured interest and pre-existing acquisition cannot be displaced on suspicion alone; the provisional attachment is therefore unsustainable. Case-Laws Money Laundering Mon, 18 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348877