https://www.taxtmi.com/caselaws?id=384491 The Tribunal upheld the attachment of properties under the Prevention of Money Laundering Act (PMLA), dismissing the appeals challenging the legality of the attachment. It ruled that the properties were involved in money laundering as defined by the PMLA, emphasizing the distinct purposes of the PMLA and the SARFAESI Act. The Tribunal clarified that properties attached under the PMLA are considered proceeds of crime and do not fall under the category of debts due to secured creditors under the SARFAESI Act. The Tribunal concluded that the claims of a secured creditor could not override actions taken under the PMLA. en-us Fri, 09 Aug 2019 00:00:00 +0530 Wed, 14 Aug 2019 15:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384491 The Tribunal upheld the attachment of properties under the Prevention of Money Laundering Act (PMLA), dismissing the appeals challenging the legality of the attachment. It ruled that the properties were involved in money laundering as defined by the PMLA, emphasizing the distinct purposes of the PMLA and the SARFAESI Act. The Tribunal clarified that properties attached under the PMLA are considered proceeds of crime and do not fall under the category of debts due to secured creditors under the SARFAESI Act. The Tribunal concluded that the claims of a secured creditor could not override actions taken under the PMLA. Case-Laws Money Laundering Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384491