https://www.taxtmi.com/caselaws?id=355640 Provisional attachment under the Prevention of Money-Laundering Act, 2002 was found unsustainable where the investments were made before the relevant offences were added to the Schedule and the record did not show a prima facie nexus between the property and proceeds of crime. The Tribunal noted that allegations of cheating and misrepresentation remained for determination in the pending criminal case and, on the material before it, did not by themselves justify money-laundering attachment. The attachment and its confirmation were therefore set aside, and the property was ordered to be released. en-us Tue, 13 Feb 2018 00:00:00 +0530 Fri, 16 Feb 2018 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355640 Provisional attachment under the Prevention of Money-Laundering Act, 2002 was found unsustainable where the investments were made before the relevant offences were added to the Schedule and the record did not show a prima facie nexus between the property and proceeds of crime. The Tribunal noted that allegations of cheating and misrepresentation remained for determination in the pending criminal case and, on the material before it, did not by themselves justify money-laundering attachment. The attachment and its confirmation were therefore set aside, and the property was ordered to be released. Case-Laws Money Laundering Tue, 13 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355640