https://www.taxtmi.com/caselaws?id=377693 A secured creditor bank's prior security interest in mortgaged properties, created before PMLA attachment, was treated as prevailing over later attachment where the bank had no role in the scheduled offence and was only enforcing secured debt. The analysis applied the statutory priority given to secured creditors under Section 26E of SARFAESI and Section 31B of the RDDB Act, together with the principle that a later special enactment with a non-obstante clause prevails over earlier inconsistent law. Bona fide mortgaged property could not be treated as proceeds of crime against the bank, and the attachment and confirmation were unsustainable to that extent. en-us Thu, 28 Mar 2019 00:00:00 +0530 Mon, 01 Apr 2019 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377693 A secured creditor bank's prior security interest in mortgaged properties, created before PMLA attachment, was treated as prevailing over later attachment where the bank had no role in the scheduled offence and was only enforcing secured debt. The analysis applied the statutory priority given to secured creditors under Section 26E of SARFAESI and Section 31B of the RDDB Act, together with the principle that a later special enactment with a non-obstante clause prevails over earlier inconsistent law. Bona fide mortgaged property could not be treated as proceeds of crime against the bank, and the attachment and confirmation were unsustainable to that extent. Case-Laws Money Laundering Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377693