https://www.taxtmi.com/caselaws?id=777515 The HC dismissed the application, holding the immovable property to be proceeds of crime. The property, owned by appellant 1, was mortgaged to secure credit facilities that remain unpaid, and evidence supports ongoing ED investigations into manipulation by the actual beneficiaries operating through the corporate façade. The transfer of majority shareholding to appellant 2 and related transactions were treated as components of money laundering. With an accused absconding and bank claims unsatisfied, the property cannot be released from the Enforcement Directorate's investigative process. en-us Fri, 29 Aug 2025 00:00:00 +0530 Mon, 01 Sep 2025 08:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777515 The HC dismissed the application, holding the immovable property to be proceeds of crime. The property, owned by appellant 1, was mortgaged to secure credit facilities that remain unpaid, and evidence supports ongoing ED investigations into manipulation by the actual beneficiaries operating through the corporate façade. The transfer of majority shareholding to appellant 2 and related transactions were treated as components of money laundering. With an accused absconding and bank claims unsatisfied, the property cannot be released from the Enforcement Directorate's investigative process. Case-Laws Money Laundering Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777515