https://www.taxtmi.com/caselaws?id=377806 The Prevention of Money-Laundering Act, 2002 was treated as prevailing over debt-recovery, security-enforcement and insolvency statutes where attachment and confiscation concern proceeds of crime or equivalent-value property. The court reasoned that PMLA operates as a civil anti-money-laundering regime, while those enactments address debt recovery, security enforcement and insolvency, so their priority clauses do not displace PMLA in that field. Bona fide third-party secured creditors with prior lawful mortgages or hypothecation interests are protected: their security does not automatically defeat attachment, but attachment continues subject to the recognised security interest and any surplus value. Charges created to defeat the statute may be treated as void, and factual scrutiny is required. en-us Tue, 02 Apr 2019 00:00:00 +0530 Wed, 25 Mar 2026 17:35:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377806 The Prevention of Money-Laundering Act, 2002 was treated as prevailing over debt-recovery, security-enforcement and insolvency statutes where attachment and confiscation concern proceeds of crime or equivalent-value property. The court reasoned that PMLA operates as a civil anti-money-laundering regime, while those enactments address debt recovery, security enforcement and insolvency, so their priority clauses do not displace PMLA in that field. Bona fide third-party secured creditors with prior lawful mortgages or hypothecation interests are protected: their security does not automatically defeat attachment, but attachment continues subject to the recognised security interest and any surplus value. Charges created to defeat the statute may be treated as void, and factual scrutiny is required. Case-Laws Money Laundering Tue, 02 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377806