https://www.taxtmi.com/caselaws?id=467506 A mortgaged property traced to proceeds of crime was not released merely because a finance company held a housing loan security over it. The tribunal found that the property had been acquired in the name of the borrower using funds linked to the underlying fraud, and that the borrower's statement supported the conclusion that he had only lent his name while the main accused controlled the asset and related cash. In these circumstances, the provisional attachment was sustained, and the lender was directed to pursue its secured claim before the competent Special Court in the appropriate proceedings. en-us Mon, 08 Jul 2024 00:00:00 +0530 Sat, 21 Mar 2026 22:41:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467506 A mortgaged property traced to proceeds of crime was not released merely because a finance company held a housing loan security over it. The tribunal found that the property had been acquired in the name of the borrower using funds linked to the underlying fraud, and that the borrower's statement supported the conclusion that he had only lent his name while the main accused controlled the asset and related cash. In these circumstances, the provisional attachment was sustained, and the lender was directed to pursue its secured claim before the competent Special Court in the appropriate proceedings. Case-Laws Money Laundering Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467506