https://www.taxtmi.com/caselaws?id=395714 The court addressed the freezing of bank accounts under the Prevention of Money Laundering Act 2002, challenged by petitioners linked to entities owned by Rana Kapoor. The petitioners argued against the characterization of their funds as "proceeds of crime," citing predated investments. The court issued notice on the writ petitions, allowing for further legal arguments. In a related matter, the petitioners sought permission to manage financial obligations from the frozen accounts, which was granted for specific dues subject to verification by the respondents, ensuring compliance with court directives. en-us Fri, 15 May 2020 00:00:00 +0530 Thu, 04 Jun 2020 05:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395714 The court addressed the freezing of bank accounts under the Prevention of Money Laundering Act 2002, challenged by petitioners linked to entities owned by Rana Kapoor. The petitioners argued against the characterization of their funds as "proceeds of crime," citing predated investments. The court issued notice on the writ petitions, allowing for further legal arguments. In a related matter, the petitioners sought permission to manage financial obligations from the frozen accounts, which was granted for specific dues subject to verification by the respondents, ensuring compliance with court directives. Case-Laws Money Laundering Fri, 15 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395714