https://www.taxtmi.com/caselaws?id=771833 The Appellate Tribunal under SAFEMA dismissed the Directorate's appeal challenging the Adjudicating Authority's order directing release of seized properties in a money laundering case involving loan defaults and NPA accounts. The Tribunal held that PMLA provisions regarding property seizure and retention are mandatory, requiring authorities to forward reasons and materials to the AA immediately after seizure. The Directorate admitted non-compliance with Section 17(2) requirements, claiming COVID-19 postal disruptions, but respondents proved postal services remained operational. The Tribunal found the retention lacked legal sanctity due to procedural violations and affirmed the AA's order directing property release. en-us Mon, 28 Apr 2025 00:00:00 +0530 Sat, 31 May 2025 08:47:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771833 The Appellate Tribunal under SAFEMA dismissed the Directorate's appeal challenging the Adjudicating Authority's order directing release of seized properties in a money laundering case involving loan defaults and NPA accounts. The Tribunal held that PMLA provisions regarding property seizure and retention are mandatory, requiring authorities to forward reasons and materials to the AA immediately after seizure. The Directorate admitted non-compliance with Section 17(2) requirements, claiming COVID-19 postal disruptions, but respondents proved postal services remained operational. The Tribunal found the retention lacked legal sanctity due to procedural violations and affirmed the AA's order directing property release. Case-Laws Money Laundering Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771833