https://www.taxtmi.com/caselaws?id=766200 Attachment of property under the Prevention of Money Laundering Act, 2002 does not by itself extinguish a mortgagee's or secured creditor's interest, but such a claimant cannot obtain release of the attached property merely on the basis of a prior mortgage or charge. The Tribunal applied its earlier ruling and held that the financial institution's rights must be worked out through the statutory mechanism under section 8(8). The secured creditor was therefore declined relief in the appeal, and its remedy was left to be pursued before the Special Court under section 8(8). en-us Tue, 28 Jan 2025 00:00:00 +0530 Tue, 18 Feb 2025 10:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766200 Attachment of property under the Prevention of Money Laundering Act, 2002 does not by itself extinguish a mortgagee's or secured creditor's interest, but such a claimant cannot obtain release of the attached property merely on the basis of a prior mortgage or charge. The Tribunal applied its earlier ruling and held that the financial institution's rights must be worked out through the statutory mechanism under section 8(8). The secured creditor was therefore declined relief in the appeal, and its remedy was left to be pursued before the Special Court under section 8(8). Case-Laws Money Laundering Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766200