https://www.taxtmi.com/caselaws?id=366454 The Tribunal ruled in favor of the Appellant Bank, determining that the properties mortgaged with the bank were not "proceeds of crime" under the Prevention of Money Laundering Act (PMLA). The Tribunal held that the bank, as a secured creditor, had priority over claims under the PMLA, SARFAESI Act, and RDDB Act. Consequently, the impugned order and provisional attachment were set aside, allowing the bank to recover its dues from the mortgaged properties in accordance with the SARFAESI Act and RDDB Act. en-us Fri, 17 Aug 2018 00:00:00 +0530 Tue, 04 Sep 2018 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366454 The Tribunal ruled in favor of the Appellant Bank, determining that the properties mortgaged with the bank were not "proceeds of crime" under the Prevention of Money Laundering Act (PMLA). The Tribunal held that the bank, as a secured creditor, had priority over claims under the PMLA, SARFAESI Act, and RDDB Act. Consequently, the impugned order and provisional attachment were set aside, allowing the bank to recover its dues from the mortgaged properties in accordance with the SARFAESI Act and RDDB Act. Case-Laws Money Laundering Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366454