https://www.taxtmi.com/caselaws?id=787278 Provisional attachment of property as equivalent value of proceeds of crime was upheld where the original tainted funds were no longer traceable. The Tribunal held that the Prevention of Money Laundering Act permits attachment of equivalent value property when proceeds of crime have been dissipated, provided reasons to believe are recorded on material showing diversion of funds and risk to confiscation proceedings. It also construed the money-laundering law and the securitisation law harmoniously, finding that a prior security interest does not by itself defeat attachment under the anti-money-laundering framework, though the secured creditor may pursue its statutory remedies separately. en-us Thu, 26 Feb 2026 00:00:00 +0530 Mon, 02 Mar 2026 08:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787278 Provisional attachment of property as equivalent value of proceeds of crime was upheld where the original tainted funds were no longer traceable. The Tribunal held that the Prevention of Money Laundering Act permits attachment of equivalent value property when proceeds of crime have been dissipated, provided reasons to believe are recorded on material showing diversion of funds and risk to confiscation proceedings. It also construed the money-laundering law and the securitisation law harmoniously, finding that a prior security interest does not by itself defeat attachment under the anti-money-laundering framework, though the secured creditor may pursue its statutory remedies separately. Case-Laws Money Laundering Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787278