https://www.taxtmi.com/caselaws?id=783607 An allocation letter for a coal block can constitute property under the Prevention of Money Laundering Act, 2002 because the Act extends to intangible rights and interests; where the allocation was obtained by misrepresentation in relation to proved scheduled offences, it was treated as proceeds of crime. Share application money and share premium raised on the strength of the expected coal block allotment were also held to be traceable to the tainted allocation, so their later receipt, the absence of mining, and use for business purposes did not change their character. The attachment was therefore upheld as the funds and rights were derived directly or indirectly from criminal activity linked to the scheduled offences. en-us Thu, 11 Dec 2025 00:00:00 +0530 Thu, 18 Dec 2025 16:38:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783607 An allocation letter for a coal block can constitute property under the Prevention of Money Laundering Act, 2002 because the Act extends to intangible rights and interests; where the allocation was obtained by misrepresentation in relation to proved scheduled offences, it was treated as proceeds of crime. Share application money and share premium raised on the strength of the expected coal block allotment were also held to be traceable to the tainted allocation, so their later receipt, the absence of mining, and use for business purposes did not change their character. The attachment was therefore upheld as the funds and rights were derived directly or indirectly from criminal activity linked to the scheduled offences. Case-Laws Money Laundering Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783607