https://www.taxtmi.com/caselaws?id=772816 The Appellate Tribunal under SAFEMA ruled that SARFAESI proceedings by mortgagee banks take precedence over PMLA attachment proceedings. Bona fide auction purchasers who acquired properties through bank auctions retain ownership rights, and their properties were wrongfully attached by ED. The tribunal set aside attachments on flats purchased at auction, protecting legitimate purchasers' rights. Secured creditors and liquidators can stake claims before the Special Judge under Section 8(7) PMLA with undertaking to deposit excess amounts. The decision balanced anti-money laundering objectives with legitimate proprietary and creditor rights. en-us Wed, 28 May 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772816 The Appellate Tribunal under SAFEMA ruled that SARFAESI proceedings by mortgagee banks take precedence over PMLA attachment proceedings. Bona fide auction purchasers who acquired properties through bank auctions retain ownership rights, and their properties were wrongfully attached by ED. The tribunal set aside attachments on flats purchased at auction, protecting legitimate purchasers' rights. Secured creditors and liquidators can stake claims before the Special Judge under Section 8(7) PMLA with undertaking to deposit excess amounts. The decision balanced anti-money laundering objectives with legitimate proprietary and creditor rights. Case-Laws Money Laundering Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772816