https://www.taxtmi.com/caselaws?id=409621 Properties acquired and mortgaged before the alleged scheduled offence, and lacking a direct or indirect nexus with tainted assets, do not qualify as proceeds of crime under PMLA Section 2(1)(u) and cannot be provisionally attached under Section 5. The court also noted that the expanded explanation to the definition does not permit attachment of unrelated untainted assets merely because tainted property is unavailable, and that a valid reason to believe must be supported by material. Secured creditor provisions under SARFAESI and the RDB Act operate in a different field and do not validate an attachment that is otherwise unsupported by proceeds of crime. Writ intervention was held maintainable where the attachment was jurisdictionally defective and natural justice was breached. en-us Mon, 28 Jun 2021 00:00:00 +0530 Tue, 30 Jun 2026 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409621 Properties acquired and mortgaged before the alleged scheduled offence, and lacking a direct or indirect nexus with tainted assets, do not qualify as proceeds of crime under PMLA Section 2(1)(u) and cannot be provisionally attached under Section 5. The court also noted that the expanded explanation to the definition does not permit attachment of unrelated untainted assets merely because tainted property is unavailable, and that a valid reason to believe must be supported by material. Secured creditor provisions under SARFAESI and the RDB Act operate in a different field and do not validate an attachment that is otherwise unsupported by proceeds of crime. Writ intervention was held maintainable where the attachment was jurisdictionally defective and natural justice was breached. Case-Laws Money Laundering Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409621