https://www.taxtmi.com/caselaws?id=314398 Where attachment concerns property of equivalent value rather than proceeds of crime, substitution with fixed deposit receipts may be accepted if it preserves the enforcement interest. The Delhi HC distinguished between assets said to represent proceeds of crime and assets attached only to secure equivalent value, and noted the continuing burden of keeping unused land and buildings under attachment. It accepted the applicants' offer to furnish FDRs of equal value, supported by an undertaking that the Enforcement Directorate would have a lien and could encash the FDRs if the appeal succeeds. The attached properties were therefore directed to be released on those conditions. en-us Wed, 20 Sep 2023 00:00:00 +0530 Thu, 06 Jun 2024 08:23:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314398 Where attachment concerns property of equivalent value rather than proceeds of crime, substitution with fixed deposit receipts may be accepted if it preserves the enforcement interest. The Delhi HC distinguished between assets said to represent proceeds of crime and assets attached only to secure equivalent value, and noted the continuing burden of keeping unused land and buildings under attachment. It accepted the applicants' offer to furnish FDRs of equal value, supported by an undertaking that the Enforcement Directorate would have a lien and could encash the FDRs if the appeal succeeds. The attached properties were therefore directed to be released on those conditions. Case-Laws Money Laundering Wed, 20 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314398