https://www.taxtmi.com/caselaws?id=437636 The High Court reviewed the legality of a provisional attachment order under the Prevention of Money Laundering Act, focusing on the attachment of two bank accounts. Finding that the order lacked specific reasons for attachment as required by Section 5(1) of the Act, the Court set aside the order concerning those accounts. The Deputy Director was directed to reassess and provide a reasoned order if needed. The Court clarified that authorities could still attach properties under the Act with proper justification. en-us Fri, 28 Apr 2023 00:00:00 +0530 Fri, 12 May 2023 08:26:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437636 The High Court reviewed the legality of a provisional attachment order under the Prevention of Money Laundering Act, focusing on the attachment of two bank accounts. Finding that the order lacked specific reasons for attachment as required by Section 5(1) of the Act, the Court set aside the order concerning those accounts. The Deputy Director was directed to reassess and provide a reasoned order if needed. The Court clarified that authorities could still attach properties under the Act with proper justification. Case-Laws Money Laundering Fri, 28 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437636