https://www.taxtmi.com/caselaws?id=467598 Under the Prevention of Money Laundering Act, 2002, restraint over immovable property was maintained where the claimants could not rebut the statutory presumptions attaching to property linked to an alleged laundering trail. The Tribunal found that the appellants did not establish a lawful source of acquisition from untainted funds, and that prior proceedings had already treated the property as belonging to another claimant without disclosure of the appellants' purchase. It also noted that the genuineness of the underlying transactions remained for the trial court and that pending criminal trial and framed charges weighed against release of the property. The challenge to freezing and retention therefore failed. en-us Thu, 27 Jun 2024 00:00:00 +0530 Wed, 25 Mar 2026 20:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467598 Under the Prevention of Money Laundering Act, 2002, restraint over immovable property was maintained where the claimants could not rebut the statutory presumptions attaching to property linked to an alleged laundering trail. The Tribunal found that the appellants did not establish a lawful source of acquisition from untainted funds, and that prior proceedings had already treated the property as belonging to another claimant without disclosure of the appellants' purchase. It also noted that the genuineness of the underlying transactions remained for the trial court and that pending criminal trial and framed charges weighed against release of the property. The challenge to freezing and retention therefore failed. Case-Laws Money Laundering Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467598