https://www.taxtmi.com/caselaws?id=433304 Provisional attachment under the Prevention of Money Laundering Act could not rest on allegations of preferential share allotment and share-price manipulation that were absent from the FIR, chargesheet, ECIR and complaint, because the Enforcement Directorate cannot itself treat unregistered allegations as the basis of a predicate offence. Proceeds of crime must be property derived from a scheduled offence; a coal block allocation by itself is not such property, and the alleged preferential-share gains were not lawfully linked to any registered scheduled offence. The attachment and connected complaint were set aside. en-us Tue, 24 Jan 2023 00:00:00 +0530 Fri, 27 Jan 2023 08:32:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433304 Provisional attachment under the Prevention of Money Laundering Act could not rest on allegations of preferential share allotment and share-price manipulation that were absent from the FIR, chargesheet, ECIR and complaint, because the Enforcement Directorate cannot itself treat unregistered allegations as the basis of a predicate offence. Proceeds of crime must be property derived from a scheduled offence; a coal block allocation by itself is not such property, and the alleged preferential-share gains were not lawfully linked to any registered scheduled offence. The attachment and connected complaint were set aside. Case-Laws Money Laundering Tue, 24 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433304