https://www.taxtmi.com/caselaws?id=750934 Where a special State statute creates a self-contained scheme for attachment, administration and equitable distribution of attached properties to depositors, provisional attachment under the Prevention of Money Laundering Act cannot displace that regime for the same properties. The Court held that overlapping PMLA attachment could not prevail over properties already attached and administered under the Andhra Pradesh Protection of Depositors of Financial Establishments Act. At the same time, PMLA attachment was sustained for properties not covered by the predicate-offence attachment, and the Enforcement Directorate could continue before the Special Court in relation to surplus sale proceeds and other non-overlapping assets. en-us Mon, 11 Mar 2024 00:00:00 +0530 Wed, 03 Apr 2024 20:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750934 Where a special State statute creates a self-contained scheme for attachment, administration and equitable distribution of attached properties to depositors, provisional attachment under the Prevention of Money Laundering Act cannot displace that regime for the same properties. The Court held that overlapping PMLA attachment could not prevail over properties already attached and administered under the Andhra Pradesh Protection of Depositors of Financial Establishments Act. At the same time, PMLA attachment was sustained for properties not covered by the predicate-offence attachment, and the Enforcement Directorate could continue before the Special Court in relation to surplus sale proceeds and other non-overlapping assets. Case-Laws Money Laundering Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750934