https://www.taxtmi.com/caselaws?id=781632 Fintech entities and NBFCs that, under service agreements and actual operating control, handled customer identification, due diligence, loan processing, recovery, data management and customer interaction were treated as having outsourced core lending functions rather than providing mere ancillary support, and the arrangement was found to amount in substance to misuse of the NBFC framework and to be linked with proceeds of crime. The Tribunal also held that provisional attachment under the Prevention of Money Laundering Act, 2002 is not limited to persons named as accused in the FIR or chargesheet and may extend to any person in possession of proceeds of crime. On both grounds, the attachment was sustained and the appeals failed. en-us Mon, 18 Aug 2025 00:00:00 +0530 Wed, 19 Nov 2025 08:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781632 Fintech entities and NBFCs that, under service agreements and actual operating control, handled customer identification, due diligence, loan processing, recovery, data management and customer interaction were treated as having outsourced core lending functions rather than providing mere ancillary support, and the arrangement was found to amount in substance to misuse of the NBFC framework and to be linked with proceeds of crime. The Tribunal also held that provisional attachment under the Prevention of Money Laundering Act, 2002 is not limited to persons named as accused in the FIR or chargesheet and may extend to any person in possession of proceeds of crime. On both grounds, the attachment was sustained and the appeals failed. Case-Laws Money Laundering Mon, 18 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781632