https://www.taxtmi.com/caselaws?id=773064 Under the Prevention of Money Laundering Act, 2002, where the tainted proceeds cannot be traced or are said to have been siphoned off, the statutory definition of proceeds of crime extends to the value of such property, permitting attachment of property of equivalent value. The tribunal also noted that provisional attachment is not rendered premature merely because no charge sheet has been filed in the predicate offence, particularly where no closure report exists and the investigation remains pending. On the material indicating a money-laundering nexus, the attachment was sustained and the challenge rejected. en-us Mon, 17 Mar 2025 00:00:00 +0530 Wed, 18 Jun 2025 09:04:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773064 Under the Prevention of Money Laundering Act, 2002, where the tainted proceeds cannot be traced or are said to have been siphoned off, the statutory definition of proceeds of crime extends to the value of such property, permitting attachment of property of equivalent value. The tribunal also noted that provisional attachment is not rendered premature merely because no charge sheet has been filed in the predicate offence, particularly where no closure report exists and the investigation remains pending. On the material indicating a money-laundering nexus, the attachment was sustained and the challenge rejected. Case-Laws Money Laundering Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773064