https://www.taxtmi.com/caselaws?id=781051 AT upheld that NCLT's restraint order prohibiting mortgage, creation of charges or alienation of properties does not constitute provisional attachment under s.5(1) of the PMLA. The tribunal found no direction of attachment by NCLT and no statutory power under IBC or Companies Act was shown to effect attachment. While s.5(1) permits provisional attachment where properties are proceeds of crime or likely to be dealt with to frustrate confiscation, the NCLT order merely restrained dealings until conclusion of its proceedings. No interference was warranted; appeal disposed. en-us Wed, 15 Oct 2025 00:00:00 +0530 Tue, 11 Nov 2025 08:20:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781051 AT upheld that NCLT's restraint order prohibiting mortgage, creation of charges or alienation of properties does not constitute provisional attachment under s.5(1) of the PMLA. The tribunal found no direction of attachment by NCLT and no statutory power under IBC or Companies Act was shown to effect attachment. While s.5(1) permits provisional attachment where properties are proceeds of crime or likely to be dealt with to frustrate confiscation, the NCLT order merely restrained dealings until conclusion of its proceedings. No interference was warranted; appeal disposed. Case-Laws Money Laundering Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781051