https://www.taxtmi.com/caselaws?id=434433 Provisional attachment under the Prevention of Money Laundering Act, 2002 was found unsustainable where the petitioner was only a lender, was not arraigned as an accused in the scheduled offence, and the predicate proceedings had already been closed with the connected accused discharged. The note states that money-laundering proceedings depend on a subsisting scheduled offence and that, once the underlying criminal activity is finally closed, discharged, acquitted, or quashed, attached property cannot continue to be treated as proceeds of crime. The attached flats were therefore directed to be released. en-us Thu, 16 Feb 2023 00:00:00 +0530 Thu, 23 Feb 2023 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434433 Provisional attachment under the Prevention of Money Laundering Act, 2002 was found unsustainable where the petitioner was only a lender, was not arraigned as an accused in the scheduled offence, and the predicate proceedings had already been closed with the connected accused discharged. The note states that money-laundering proceedings depend on a subsisting scheduled offence and that, once the underlying criminal activity is finally closed, discharged, acquitted, or quashed, attached property cannot continue to be treated as proceeds of crime. The attached flats were therefore directed to be released. Case-Laws Money Laundering Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434433