https://www.taxtmi.com/caselaws?id=354992 An innocent secured creditor whose mortgage predates the alleged offence cannot be deprived of its security merely because the assets were provisionally attached under PMLA. The Tribunal noted that the bank was not an accused, the properties had been mortgaged and subjected to SARFAESI/DRT recovery proceedings before the alleged crime, and the later statutory priority given to secured creditors had to be respected. It also found no material linking the mortgaged assets to criminal activity or showing that they were proceeds of crime. On that basis, the attachment and its confirmation were not sustainable against the bank. en-us Thu, 25 Jan 2018 00:00:00 +0530 Thu, 08 Feb 2018 07:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354992 An innocent secured creditor whose mortgage predates the alleged offence cannot be deprived of its security merely because the assets were provisionally attached under PMLA. The Tribunal noted that the bank was not an accused, the properties had been mortgaged and subjected to SARFAESI/DRT recovery proceedings before the alleged crime, and the later statutory priority given to secured creditors had to be respected. It also found no material linking the mortgaged assets to criminal activity or showing that they were proceeds of crime. On that basis, the attachment and its confirmation were not sustainable against the bank. Case-Laws Money Laundering Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354992