https://www.taxtmi.com/caselaws?id=772410 Delhi HC dismissed applications seeking directions for unfreezing of movable assets and bank accounts frozen under Prevention of Money Laundering Act, 2002. The case involved alleged siphoning of Rs. 1,260 crores from a financial entity through complex conspiracy involving unsecured loans to promoter-controlled entities. Applicants sought access to nearly Rs. 5 crores each for educational and living expenses but failed to provide substantial justification beyond one quantified need of Rs. 30 lakhs for tuition. HC found claims vague and inadequately substantiated, noting that mere invocation of educational need without concrete documentation cannot justify sweeping relief sought. en-us Wed, 04 Jun 2025 00:00:00 +0530 Sat, 07 Jun 2025 08:40:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772410 Delhi HC dismissed applications seeking directions for unfreezing of movable assets and bank accounts frozen under Prevention of Money Laundering Act, 2002. The case involved alleged siphoning of Rs. 1,260 crores from a financial entity through complex conspiracy involving unsecured loans to promoter-controlled entities. Applicants sought access to nearly Rs. 5 crores each for educational and living expenses but failed to provide substantial justification beyond one quantified need of Rs. 30 lakhs for tuition. HC found claims vague and inadequately substantiated, noting that mere invocation of educational need without concrete documentation cannot justify sweeping relief sought. Case-Laws Money Laundering Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772410