https://www.taxtmi.com/caselaws?id=380088 Provisional attachment under the Prevention of Money-laundering Act, 2002 is sustainable only where the property is shown to be proceeds of crime or otherwise lawfully liable to be secured under the statutory scheme. Here, a residential property purchased before the alleged generation of proceeds of crime, and unrelated to funds already secured in criminal court, was treated as an unwarranted and disproportionate attachment. The text also emphasises that attachment and adjudication must follow the statutory procedure, with proper consideration of relevant material and application of mind; a mechanical order unsupported by a clear nexus to laundering activity cannot stand. On that reasoning, the attachment and consequential adjudication were unsustainable and the property was directed to be released. en-us Mon, 06 May 2019 00:00:00 +0530 Tue, 14 May 2019 07:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380088 Provisional attachment under the Prevention of Money-laundering Act, 2002 is sustainable only where the property is shown to be proceeds of crime or otherwise lawfully liable to be secured under the statutory scheme. Here, a residential property purchased before the alleged generation of proceeds of crime, and unrelated to funds already secured in criminal court, was treated as an unwarranted and disproportionate attachment. The text also emphasises that attachment and adjudication must follow the statutory procedure, with proper consideration of relevant material and application of mind; a mechanical order unsupported by a clear nexus to laundering activity cannot stand. On that reasoning, the attachment and consequential adjudication were unsustainable and the property was directed to be released. Case-Laws Money Laundering Mon, 06 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380088