https://www.taxtmi.com/caselaws?id=783927 A secured creditor challenged a provisional attachment of a hypothecated vehicle under PMLA, contending its loan-financed interest could not be treated as "proceeds of crime." Applying the principle that attachment laws must be harmoniously construed to preserve both confiscation objectives and bona fide creditor rights, the Tribunal held that only the portion funded from unexplained deposits in the borrower's bank account was tainted and not free from suspicion. It further held that the bank's secured interest is protected under s 8(8) PMLA if it acted in good faith and with reasonable precautions. The appeal was disposed of with liberty to seek appropriate relief before the Special Court under s 8(8) PMLA. en-us Thu, 04 Dec 2025 00:00:00 +0530 Fri, 26 Dec 2025 07:18:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783927 A secured creditor challenged a provisional attachment of a hypothecated vehicle under PMLA, contending its loan-financed interest could not be treated as "proceeds of crime." Applying the principle that attachment laws must be harmoniously construed to preserve both confiscation objectives and bona fide creditor rights, the Tribunal held that only the portion funded from unexplained deposits in the borrower's bank account was tainted and not free from suspicion. It further held that the bank's secured interest is protected under s 8(8) PMLA if it acted in good faith and with reasonable precautions. The appeal was disposed of with liberty to seek appropriate relief before the Special Court under s 8(8) PMLA. Case-Laws Money Laundering Thu, 04 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783927