https://www.taxtmi.com/caselaws?id=382151 Attachment under the Prevention of Money Laundering Act, 2002 must be supported by a recorded reason to believe and material showing a real nexus between the property and alleged proceeds of crime. On the land attached against one company, the Tribunal found the record insufficient to justify a full confirmation and modified the order by continuing the attachment but directing that possession not be taken. On the hotel property of another company, it held that equivalent value could secure the interest involved and modified the attachment by requiring a deposit, after which the specified floors were released subject to restraint on alienation. en-us Fri, 14 Jun 2019 00:00:00 +0530 Wed, 26 Jun 2019 07:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382151 Attachment under the Prevention of Money Laundering Act, 2002 must be supported by a recorded reason to believe and material showing a real nexus between the property and alleged proceeds of crime. On the land attached against one company, the Tribunal found the record insufficient to justify a full confirmation and modified the order by continuing the attachment but directing that possession not be taken. On the hotel property of another company, it held that equivalent value could secure the interest involved and modified the attachment by requiring a deposit, after which the specified floors were released subject to restraint on alienation. Case-Laws Money Laundering Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382151