https://www.taxtmi.com/caselaws?id=756395 Attachment of movable and immovable properties under PMLA could not be continued once the predicate offence complaint had been withdrawn, the closure report accepted, and the ECIR proceedings quashed, because the foundation for treating the assets as proceeds of crime had ceased. The Court also treated the provisional attachment as having lapsed, since the confirmation complaint had been dropped and the scheme governing provisional attachment is time-bound. On those facts, no subsisting attachment survived in law, and the properties were directed to be released. en-us Fri, 19 Jul 2024 00:00:00 +0530 Fri, 02 Aug 2024 08:11:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756395 Attachment of movable and immovable properties under PMLA could not be continued once the predicate offence complaint had been withdrawn, the closure report accepted, and the ECIR proceedings quashed, because the foundation for treating the assets as proceeds of crime had ceased. The Court also treated the provisional attachment as having lapsed, since the confirmation complaint had been dropped and the scheme governing provisional attachment is time-bound. On those facts, no subsisting attachment survived in law, and the properties were directed to be released. Case-Laws Money Laundering Fri, 19 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756395