https://www.taxtmi.com/caselaws?id=751506 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging property attachment under PMLA. The Tribunal held that attachment under Section 5 requires not only proceeds of crime but also apprehension of concealment or transfer. Since Bund Garden Police Station had already frozen the bank account containing Rs.7.96 crores, there was no likelihood of transfer or alienation. The respondent's attachment was therefore unjustified as it lacked the element of apprehension required under the Act. The appeal was disposed of with the order operating until the police freeze remains in force. en-us Thu, 14 Mar 2024 00:00:00 +0530 Wed, 17 Apr 2024 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751506 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging property attachment under PMLA. The Tribunal held that attachment under Section 5 requires not only proceeds of crime but also apprehension of concealment or transfer. Since Bund Garden Police Station had already frozen the bank account containing Rs.7.96 crores, there was no likelihood of transfer or alienation. The respondent's attachment was therefore unjustified as it lacked the element of apprehension required under the Act. The appeal was disposed of with the order operating until the police freeze remains in force. Case-Laws Money Laundering Thu, 14 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751506