https://www.taxtmi.com/caselaws?id=411598 The Court granted a stay on the order passed by the Appellate Tribunal under the Prevention of Money Laundering Act. It admitted the First Appeal, maintaining status quo on the attached properties until the next hearing. The Court stayed the operation of the impugned order to protect the interests of both the Bank and the Directorate of Enforcement. The principal issue was the Bank's claim over the attached properties, impacted by the Tribunal's finding that the properties were not proceeds of crime. The Court proposed a joint auction of the properties to safeguard interests and deferred the decision on proceeds pending further orders. en-us Mon, 23 Aug 2021 00:00:00 +0530 Sat, 28 Aug 2021 09:23:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411598 The Court granted a stay on the order passed by the Appellate Tribunal under the Prevention of Money Laundering Act. It admitted the First Appeal, maintaining status quo on the attached properties until the next hearing. The Court stayed the operation of the impugned order to protect the interests of both the Bank and the Directorate of Enforcement. The principal issue was the Bank's claim over the attached properties, impacted by the Tribunal's finding that the properties were not proceeds of crime. The Court proposed a joint auction of the properties to safeguard interests and deferred the decision on proceeds pending further orders. Case-Laws Money Laundering Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411598