https://www.taxtmi.com/caselaws?id=773249 Properties purchased from funds diverted out of bank finance, together with rent generated from those assets, may be provisionally attached as proceeds of crime where the acquisition is traceable to tainted funds and no independent source is shown. The Tribunal accepted that the sanctioned loan was not used for its intended purpose, remained unpaid, and that the assets were linked to diverted funds transferred by the parent company. It also held that property acquired before the alleged crime period can still be attached as equivalent value when direct proceeds are unavailable. The provisional attachment was upheld and the challenge failed. en-us Wed, 18 Jun 2025 00:00:00 +0530 Fri, 20 Jun 2025 08:34:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773249 Properties purchased from funds diverted out of bank finance, together with rent generated from those assets, may be provisionally attached as proceeds of crime where the acquisition is traceable to tainted funds and no independent source is shown. The Tribunal accepted that the sanctioned loan was not used for its intended purpose, remained unpaid, and that the assets were linked to diverted funds transferred by the parent company. It also held that property acquired before the alleged crime period can still be attached as equivalent value when direct proceeds are unavailable. The provisional attachment was upheld and the challenge failed. Case-Laws Money Laundering Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773249