https://www.taxtmi.com/caselaws?id=375335 Property already subject to a bona fide prior security interest in favour of secured creditors who are not implicated in the scheduled offence or money laundering cannot be attached unless reasoned material shows it is proceeds of crime and the statutory conditions for attachment are strictly met. A sale below guideline value, by itself, does not establish proceeds of crime or money-laundering, especially where the transaction was supported by lender finance and the tainted element was not shown. The confirmation order was also unsustainable because it did not adequately deal with the appellants' replies or record proper reasons, so the attachment was set aside and the property was released. en-us Thu, 14 Feb 2019 00:00:00 +0530 Mon, 18 Feb 2019 06:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375335 Property already subject to a bona fide prior security interest in favour of secured creditors who are not implicated in the scheduled offence or money laundering cannot be attached unless reasoned material shows it is proceeds of crime and the statutory conditions for attachment are strictly met. A sale below guideline value, by itself, does not establish proceeds of crime or money-laundering, especially where the transaction was supported by lender finance and the tainted element was not shown. The confirmation order was also unsustainable because it did not adequately deal with the appellants' replies or record proper reasons, so the attachment was set aside and the property was released. Case-Laws Money Laundering Thu, 14 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375335