https://www.taxtmi.com/caselaws?id=773160 The Appellate Tribunal under SAFEMA at New Delhi dismissed appeals challenging property attachment under money laundering provisions. The tribunal held that properties can be attached as proceeds of crime even when the holders are not named as accused in the predicate offence, following SC precedent in Vijay Madanlal Choudhary case. Corporate entities cannot claim immunity from attachment merely because they are juristic persons when their shareholders/directors are involved in the offence. The tribunal found sufficient material establishing the appellants possessed proceeds of crime through layering and concealment of criminal proceeds from bank fraud. The attachment was upheld despite appellants not being named in the ECIR or chargesheet, as the law targets proceeds of crime regardless of who holds them. en-us Wed, 04 Jun 2025 00:00:00 +0530 Thu, 19 Jun 2025 08:29:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773160 The Appellate Tribunal under SAFEMA at New Delhi dismissed appeals challenging property attachment under money laundering provisions. The tribunal held that properties can be attached as proceeds of crime even when the holders are not named as accused in the predicate offence, following SC precedent in Vijay Madanlal Choudhary case. Corporate entities cannot claim immunity from attachment merely because they are juristic persons when their shareholders/directors are involved in the offence. The tribunal found sufficient material establishing the appellants possessed proceeds of crime through layering and concealment of criminal proceeds from bank fraud. The attachment was upheld despite appellants not being named in the ECIR or chargesheet, as the law targets proceeds of crime regardless of who holds them. Case-Laws Money Laundering Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773160