https://www.taxtmi.com/caselaws?id=425102 Section 5 of the PMLA requires a recorded, material-based reason to believe that a person holds proceeds of crime and may conceal or transfer them to defeat confiscation; the text emphasises that this nexus must appear in the attachment order itself and cannot rest on suspicion or later explanations in a counter affidavit. It also notes that where the connected criminal proceedings and PMLA proceedings had already been quashed, the summons under Section 50 and the provisional attachment were described as lacking a valid foundation and therefore unsustainable. en-us Mon, 11 Jul 2022 00:00:00 +0530 Fri, 15 Jul 2022 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425102 Section 5 of the PMLA requires a recorded, material-based reason to believe that a person holds proceeds of crime and may conceal or transfer them to defeat confiscation; the text emphasises that this nexus must appear in the attachment order itself and cannot rest on suspicion or later explanations in a counter affidavit. It also notes that where the connected criminal proceedings and PMLA proceedings had already been quashed, the summons under Section 50 and the provisional attachment were described as lacking a valid foundation and therefore unsustainable. Case-Laws Money Laundering Mon, 11 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425102