https://www.taxtmi.com/caselaws?id=776530 The AT under SAFEMA upheld the freezing of 55 bank accounts and seizure of records linked to the appellant, who was found involved in issuing fake receipts, manipulating company records, and receiving proceeds of crime totaling Rs. 126 Crores. Despite the initial FIR naming the company MD as the primary accused, evidence revealed the appellant's significant role in the misappropriation. The appellant failed to produce any agreement legitimizing their receipt of funds. The tribunal allowed limited operation of the frozen accounts only to the extent matching the proceeds of crime. The settlement between the appellant and the company was deemed an attempt to layer illicit funds and evade investor claims. The appeals challenging the freezing and seizure were dismissed for lack of merit. en-us Wed, 16 Jul 2025 00:00:00 +0530 Wed, 13 Aug 2025 07:27:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776530 The AT under SAFEMA upheld the freezing of 55 bank accounts and seizure of records linked to the appellant, who was found involved in issuing fake receipts, manipulating company records, and receiving proceeds of crime totaling Rs. 126 Crores. Despite the initial FIR naming the company MD as the primary accused, evidence revealed the appellant's significant role in the misappropriation. The appellant failed to produce any agreement legitimizing their receipt of funds. The tribunal allowed limited operation of the frozen accounts only to the extent matching the proceeds of crime. The settlement between the appellant and the company was deemed an attempt to layer illicit funds and evade investor claims. The appeals challenging the freezing and seizure were dismissed for lack of merit. Case-Laws Money Laundering Wed, 16 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776530