https://www.taxtmi.com/caselaws?id=385656 Equity shares subscribed through banking channels before the PMLA and before the alleged scheduled offence period could not be treated as proceeds of crime or as property equivalent in value without a proven nexus to the offence; the later equivalent-value concept was treated as prospective, and the freezing and retention orders could not continue in their existing form, with de-freezing directed subject to compliance with the imposed condition. The Tribunal's appellate power was confined to confirming, modifying, or setting aside the impugned order and did not extend to granting a civil money decree for alleged wrongful remittance, so recovery-type relief was refused while statutory relief against restraint was granted. en-us Thu, 29 Aug 2019 00:00:00 +0530 Wed, 11 Sep 2019 07:56:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385656 Equity shares subscribed through banking channels before the PMLA and before the alleged scheduled offence period could not be treated as proceeds of crime or as property equivalent in value without a proven nexus to the offence; the later equivalent-value concept was treated as prospective, and the freezing and retention orders could not continue in their existing form, with de-freezing directed subject to compliance with the imposed condition. The Tribunal's appellate power was confined to confirming, modifying, or setting aside the impugned order and did not extend to granting a civil money decree for alleged wrongful remittance, so recovery-type relief was refused while statutory relief against restraint was granted. Case-Laws Money Laundering Thu, 29 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385656