https://www.taxtmi.com/caselaws?id=759860 The Appellate Tribunal SAFEMA, New Delhi dismissed the appeal challenging property attachment under PMLA. The appellant trust argued non-joinder of Government of Odisha as necessary party, lack of nexus between attached property and scheduled offence, and procedural violations. The tribunal held that Government of Odisha need not be joined as party since only leasehold rights were transferred to trust. Essential ingredients of section 5(1) PMLA were satisfied as there was recorded reason to believe property was involved in money laundering. The tribunal found nexus established as Rs. 9.01 crores from alleged criminal activity was infused into trust for construction and salary payments when the accused was managing trustee during 2009-2012. en-us Thu, 06 Jun 2024 00:00:00 +0530 Wed, 09 Oct 2024 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759860 The Appellate Tribunal SAFEMA, New Delhi dismissed the appeal challenging property attachment under PMLA. The appellant trust argued non-joinder of Government of Odisha as necessary party, lack of nexus between attached property and scheduled offence, and procedural violations. The tribunal held that Government of Odisha need not be joined as party since only leasehold rights were transferred to trust. Essential ingredients of section 5(1) PMLA were satisfied as there was recorded reason to believe property was involved in money laundering. The tribunal found nexus established as Rs. 9.01 crores from alleged criminal activity was infused into trust for construction and salary payments when the accused was managing trustee during 2009-2012. Case-Laws Money Laundering Thu, 06 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759860