https://www.taxtmi.com/caselaws?id=770864 The Appellate Tribunal under SAFEMA allowed the appellant bank's appeal against attachment of bank accounts under money laundering proceedings. The bank had already restored Rs. 25 crore to the complainant NCL with interest by November 2009. The Sessions Court had previously granted relief by ordering defreezing of eleven bank accounts in December 2014. The Tribunal held that since the bank compensated the victim, the amount appropriated by ED should be released to the appellant bank. The attachment was lifted as the primary purpose of preventing dissipation of proceeds of crime was no longer applicable given the compensation provided. en-us Wed, 09 Apr 2025 00:00:00 +0530 Fri, 16 May 2025 13:01:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770864 The Appellate Tribunal under SAFEMA allowed the appellant bank's appeal against attachment of bank accounts under money laundering proceedings. The bank had already restored Rs. 25 crore to the complainant NCL with interest by November 2009. The Sessions Court had previously granted relief by ordering defreezing of eleven bank accounts in December 2014. The Tribunal held that since the bank compensated the victim, the amount appropriated by ED should be released to the appellant bank. The attachment was lifted as the primary purpose of preventing dissipation of proceeds of crime was no longer applicable given the compensation provided. Case-Laws Money Laundering Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770864