https://www.taxtmi.com/caselaws?id=753441 The Delhi HC allowed substitution of provisionally attached property under money laundering proceedings with a bank guarantee of equivalent value. The court ordered that land measuring 26.76 hectares valued at Rs. 4,68,60,710 attached under Provisional Attachment Order No 2/2019 be substituted by bank guarantee to be furnished within 15 days. The petitioner must submit an undertaking not to create any third-party interest in the guarantee. The guarantee must be renewed periodically until trial conclusion, with enforcement authorities having liberty to encash if they succeed in proceedings. en-us Mon, 27 May 2024 00:00:00 +0530 Sat, 01 Jun 2024 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753441 The Delhi HC allowed substitution of provisionally attached property under money laundering proceedings with a bank guarantee of equivalent value. The court ordered that land measuring 26.76 hectares valued at Rs. 4,68,60,710 attached under Provisional Attachment Order No 2/2019 be substituted by bank guarantee to be furnished within 15 days. The petitioner must submit an undertaking not to create any third-party interest in the guarantee. The guarantee must be renewed periodically until trial conclusion, with enforcement authorities having liberty to encash if they succeed in proceedings. Case-Laws Money Laundering Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753441