https://www.taxtmi.com/caselaws?id=775013 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging a provisional attachment order in a money laundering case. The case involved allegations of discounting forged cheques, forged inland bills, and fraudulent overdraft facilities against non-existent LIC policies causing bank losses. The Tribunal found that the respondents' reliance on settlement deeds was flawed as these contained signatures of only one party and were not executed by consenting parties. Witness statements revealed contradictions and failed to endorse each other's presence during alleged settlements. The police investigation resulted in a closure report finding no substance in allegations. The Tribunal noted that documentary evidence failed to substantiate cash transfers between the accused parties. Additionally, allegations of payment of Rs. 1.85 crores for agricultural land valued at only Rs. 39.11 lakhs were found erroneous. The Tribunal concluded that reliance on unenforceable settlement deeds was improper and allowed the appeal. en-us Wed, 09 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775013 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging a provisional attachment order in a money laundering case. The case involved allegations of discounting forged cheques, forged inland bills, and fraudulent overdraft facilities against non-existent LIC policies causing bank losses. The Tribunal found that the respondents' reliance on settlement deeds was flawed as these contained signatures of only one party and were not executed by consenting parties. Witness statements revealed contradictions and failed to endorse each other's presence during alleged settlements. The police investigation resulted in a closure report finding no substance in allegations. The Tribunal noted that documentary evidence failed to substantiate cash transfers between the accused parties. Additionally, allegations of payment of Rs. 1.85 crores for agricultural land valued at only Rs. 39.11 lakhs were found erroneous. The Tribunal concluded that reliance on unenforceable settlement deeds was improper and allowed the appeal. Case-Laws Money Laundering Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775013