https://www.taxtmi.com/caselaws?id=784767 Provisional attachment under the Prevention of Money Laundering Act was upheld because the recorded reasons showed a reasonable apprehension that the persons concerned could conceal, transfer or otherwise deal with the properties so as to frustrate confiscation; the use of "likely" was treated as sufficient to support that apprehension. The challenge that the attachment was excessive also failed because the Act requires valuation under the statutory definition of "value", namely fair market value on the date of acquisition or possession, and not a substituted current-market method. The attachment was therefore sustained on the applicable statutory basis. en-us Mon, 24 Nov 2025 00:00:00 +0530 Mon, 12 Jan 2026 09:31:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784767 Provisional attachment under the Prevention of Money Laundering Act was upheld because the recorded reasons showed a reasonable apprehension that the persons concerned could conceal, transfer or otherwise deal with the properties so as to frustrate confiscation; the use of "likely" was treated as sufficient to support that apprehension. The challenge that the attachment was excessive also failed because the Act requires valuation under the statutory definition of "value", namely fair market value on the date of acquisition or possession, and not a substituted current-market method. The attachment was therefore sustained on the applicable statutory basis. Case-Laws Money Laundering Mon, 24 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784767