https://www.taxtmi.com/caselaws?id=414397 The court quashed the provisional attachment order under Section 5(1) of the Prevention of Money Laundering Act, 2002, as it did not meet statutory requirements. The court found the order lacked justification that the property was proceeds of crime and likely to be concealed, transferred, or dealt with. The matter was remanded for a fresh order, emphasizing the need for a valid "reason to believe" based on tangible material. The criminal writ petition was allowed and disposed of accordingly. en-us Tue, 26 Oct 2021 00:00:00 +0530 Mon, 08 Nov 2021 06:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414397 The court quashed the provisional attachment order under Section 5(1) of the Prevention of Money Laundering Act, 2002, as it did not meet statutory requirements. The court found the order lacked justification that the property was proceeds of crime and likely to be concealed, transferred, or dealt with. The matter was remanded for a fresh order, emphasizing the need for a valid "reason to believe" based on tangible material. The criminal writ petition was allowed and disposed of accordingly. Case-Laws Money Laundering Tue, 26 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414397