https://www.taxtmi.com/caselaws?id=769279 The Appellate Tribunal under SAFEMA dismissed the appeal challenging attachment of shares in a money laundering case. The appellant argued shares were purchased in 2003, prior to the alleged AgustaWestland kickback offence, and claimed the Enforcement Directorate lacked authority to freeze them. The Tribunal held that money laundering occurs when proceeds of crime are channelized, with the relevant date being when the crime comes to ED's notice, not the predicate offence date. The Tribunal found the appellant was involved in routing bribe money through share purchases, making the attachment lawful under PMLA. Delhi HC's earlier judgment was clarified as not entirely favorable to appellant, supporting the attachment order's validity. en-us Thu, 06 Mar 2025 00:00:00 +0530 Wed, 23 Apr 2025 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769279 The Appellate Tribunal under SAFEMA dismissed the appeal challenging attachment of shares in a money laundering case. The appellant argued shares were purchased in 2003, prior to the alleged AgustaWestland kickback offence, and claimed the Enforcement Directorate lacked authority to freeze them. The Tribunal held that money laundering occurs when proceeds of crime are channelized, with the relevant date being when the crime comes to ED's notice, not the predicate offence date. The Tribunal found the appellant was involved in routing bribe money through share purchases, making the attachment lawful under PMLA. Delhi HC's earlier judgment was clarified as not entirely favorable to appellant, supporting the attachment order's validity. Case-Laws Money Laundering Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769279