https://www.taxtmi.com/caselaws?id=781309 Provisional attachment under the Prevention of Money Laundering Act was upheld because the investigation materials, including FIRs, the ECIR, witness statements and the appellant's own statement, were sufficient to show prima facie involvement in the scheduled offence and laundering process. The Tribunal found allegations of collection of funds from depositors on false promises, diversion to shell or unrelated entities, and acquisition of immovable properties from tainted funds. The appellant's claim that the properties were not proceeds of crime, and that purchase came from a personal source or settlement, was rejected for lack of reliable supporting material. No interference with the attachment was warranted. en-us Tue, 23 Sep 2025 00:00:00 +0530 Fri, 14 Nov 2025 09:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781309 Provisional attachment under the Prevention of Money Laundering Act was upheld because the investigation materials, including FIRs, the ECIR, witness statements and the appellant's own statement, were sufficient to show prima facie involvement in the scheduled offence and laundering process. The Tribunal found allegations of collection of funds from depositors on false promises, diversion to shell or unrelated entities, and acquisition of immovable properties from tainted funds. The appellant's claim that the properties were not proceeds of crime, and that purchase came from a personal source or settlement, was rejected for lack of reliable supporting material. No interference with the attachment was warranted. Case-Laws Money Laundering Tue, 23 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781309