https://www.taxtmi.com/caselaws?id=372476 Immovable properties mortgaged to banks before the alleged scheduled offence could not be treated as proceeds of crime or as their value, because they were independently acquired and already encumbered for bona fide loan facilities before the alleged fraud period. The secured creditors' registered security interests under SARFAESI and the RDB Act were treated as having priority over attachment under the Prevention of Money-Laundering Act in respect of those bona fide secured assets. On that basis, provisional attachment was set aside for the properties mortgaged to the appellant banks, while other questions were not examined further. en-us Wed, 12 Dec 2018 00:00:00 +0530 Mon, 24 Dec 2018 07:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372476 Immovable properties mortgaged to banks before the alleged scheduled offence could not be treated as proceeds of crime or as their value, because they were independently acquired and already encumbered for bona fide loan facilities before the alleged fraud period. The secured creditors' registered security interests under SARFAESI and the RDB Act were treated as having priority over attachment under the Prevention of Money-Laundering Act in respect of those bona fide secured assets. On that basis, provisional attachment was set aside for the properties mortgaged to the appellant banks, while other questions were not examined further. Case-Laws Money Laundering Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372476