https://www.taxtmi.com/caselaws?id=761847 The HC dismissed writ petitions challenging provisional attachment orders under the Money Laundering Act. The court held that properties acquired prior to scheduled offences can be attached if they constitute proceeds of crime or equivalent value, following amendments expanding the definition. The court found that mandatory requirements under Section 5(1) were fulfilled as the attachment officer recorded sufficient reasons based on material evidence including seized electronic records and fake invoices. The court rejected arguments that filing a report under Section 173 CrPC was prerequisite for attachment, noting substantial material established prima facie money laundering and illegal mining offences. Despite availability of alternative statutory remedies, the court entertained the petitions but found them meritless. en-us Wed, 13 Nov 2024 00:00:00 +0530 Mon, 18 Nov 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761847 The HC dismissed writ petitions challenging provisional attachment orders under the Money Laundering Act. The court held that properties acquired prior to scheduled offences can be attached if they constitute proceeds of crime or equivalent value, following amendments expanding the definition. The court found that mandatory requirements under Section 5(1) were fulfilled as the attachment officer recorded sufficient reasons based on material evidence including seized electronic records and fake invoices. The court rejected arguments that filing a report under Section 173 CrPC was prerequisite for attachment, noting substantial material established prima facie money laundering and illegal mining offences. Despite availability of alternative statutory remedies, the court entertained the petitions but found them meritless. Case-Laws Money Laundering Wed, 13 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761847