https://www.taxtmi.com/caselaws?id=434582 Provisional attachment under the PMLA cannot survive where the person said to be linked to the attached assets has been discharged and the record does not establish a money trail, placement, layering, or integration of proceeds of crime. The Delhi HC noted that the attachment rested on the allegation that the petitioner was the majority shareholder and ultimate beneficiary of the company, but the Special Court found no material showing receipt or dealing in proceeds of crime. On that basis, the court held that the attachment could not be sustained and the attached properties were liable to be released. en-us Thu, 16 Feb 2023 00:00:00 +0530 Mon, 27 Feb 2023 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434582 Provisional attachment under the PMLA cannot survive where the person said to be linked to the attached assets has been discharged and the record does not establish a money trail, placement, layering, or integration of proceeds of crime. The Delhi HC noted that the attachment rested on the allegation that the petitioner was the majority shareholder and ultimate beneficiary of the company, but the Special Court found no material showing receipt or dealing in proceeds of crime. On that basis, the court held that the attachment could not be sustained and the attached properties were liable to be released. Case-Laws Money Laundering Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434582