https://www.taxtmi.com/caselaws?id=770584 The Appellate Tribunal under SAFEMA dismissed the appeal challenging attachment of properties under PMLA. The Tribunal held that properties acquired prior to the predicate offence can be attached as equivalent value when actual proceeds of crime are not traceable. Properties mortgaged to banks remain attachable as appellants can still transfer them through various means without bank knowledge. The Tribunal rejected substitution of attached properties with FDRs, noting absence of specific PMLA provisions and that total fraud quantum exceeded attached property value. Properties purchased through benami transactions during bank fraud conspiracy remain attachable under PMLA despite being governed by separate benami legislation. en-us Wed, 02 Apr 2025 00:00:00 +0530 Tue, 13 May 2025 18:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770584 The Appellate Tribunal under SAFEMA dismissed the appeal challenging attachment of properties under PMLA. The Tribunal held that properties acquired prior to the predicate offence can be attached as equivalent value when actual proceeds of crime are not traceable. Properties mortgaged to banks remain attachable as appellants can still transfer them through various means without bank knowledge. The Tribunal rejected substitution of attached properties with FDRs, noting absence of specific PMLA provisions and that total fraud quantum exceeded attached property value. Properties purchased through benami transactions during bank fraud conspiracy remain attachable under PMLA despite being governed by separate benami legislation. Case-Laws Money Laundering Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770584