https://www.taxtmi.com/caselaws?id=462200 The amended SARFAESI framework is described as giving secured creditors overriding priority for recovery of secured debts, even against attachment claims under the Prevention of Money Laundering Act. The commentary also states that where banks held prior mortgages, were not shown to be involved in the scheduled offence, and had no nexus with alleged laundering activity, the attachment of such properties is unsustainable against their secured interests. The practical effect, as stated, is that bona fide secured creditors retain recovery rights and the attached secured properties are released from the competing money-laundering attachment regime. en-us Thu, 31 Aug 2017 00:00:00 +0530 Sun, 01 Jun 2025 02:59:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462200 The amended SARFAESI framework is described as giving secured creditors overriding priority for recovery of secured debts, even against attachment claims under the Prevention of Money Laundering Act. The commentary also states that where banks held prior mortgages, were not shown to be involved in the scheduled offence, and had no nexus with alleged laundering activity, the attachment of such properties is unsustainable against their secured interests. The practical effect, as stated, is that bona fide secured creditors retain recovery rights and the attached secured properties are released from the competing money-laundering attachment regime. Case-Laws Money Laundering Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462200