https://www.taxtmi.com/caselaws?id=777109 Where the record showed that loan funds were diverted from the sanctioned project, transferred to another entity, and partly used for unrelated repayment, the attached shares were treated as representing value equivalent to tainted funds and the attachment was justified. Pending insolvency proceedings and a stated moratorium did not by themselves bar action under the Prevention of Money Laundering Act, because attachment under the anti-money laundering framework operates independently to protect proceeds of crime unless some final insolvency consequence affects the property. The challenge therefore failed on both grounds, and the impugned attachment was sustained. en-us Mon, 18 Aug 2025 00:00:00 +0530 Mon, 25 Aug 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777109 Where the record showed that loan funds were diverted from the sanctioned project, transferred to another entity, and partly used for unrelated repayment, the attached shares were treated as representing value equivalent to tainted funds and the attachment was justified. Pending insolvency proceedings and a stated moratorium did not by themselves bar action under the Prevention of Money Laundering Act, because attachment under the anti-money laundering framework operates independently to protect proceeds of crime unless some final insolvency consequence affects the property. The challenge therefore failed on both grounds, and the impugned attachment was sustained. Case-Laws Money Laundering Mon, 18 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777109