https://www.taxtmi.com/caselaws?id=458060 Provisional attachment under the Prevention of Money Laundering Act was treated as sustainable where the authority had recorded reasons in writing and relied on material such as the charge-sheet and investigation record. The Tribunal noted that sections 5 and 8 allow provisional attachment and adjudication, and that prohibitory directions may be issued during investigation to preserve the property. A plea of bona fide purchase did not defeat attachment at that stage, and the retrospectivity argument failed because the scheduled offences were already included from 1 June 2009 and the relevant transaction steps were later. Limited interim possession was nevertheless allowed on monthly deposit terms pending the Special Court proceedings. en-us Tue, 20 Jun 2017 00:00:00 +0530 Sat, 05 Oct 2024 21:45:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458060 Provisional attachment under the Prevention of Money Laundering Act was treated as sustainable where the authority had recorded reasons in writing and relied on material such as the charge-sheet and investigation record. The Tribunal noted that sections 5 and 8 allow provisional attachment and adjudication, and that prohibitory directions may be issued during investigation to preserve the property. A plea of bona fide purchase did not defeat attachment at that stage, and the retrospectivity argument failed because the scheduled offences were already included from 1 June 2009 and the relevant transaction steps were later. Limited interim possession was nevertheless allowed on monthly deposit terms pending the Special Court proceedings. Case-Laws Money Laundering Tue, 20 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458060