https://www.taxtmi.com/caselaws?id=789937 Under the money-laundering framework, fixed deposits of a closely linked company were treated as value equivalent property and the attachment was sustained even without direct tracing of proceeds of crime, because the Tribunal found a sufficient nexus through common directorship, shareholding and the need to secure the quantified fraud amount. The appellant's claim that its bank account and deposits belonged to an independent legal entity did not justify release, as the separate corporate identity was not decisive on the facts. The appeal therefore failed and the provisional attachment remained in force. en-us Thu, 13 Nov 2025 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789937 Under the money-laundering framework, fixed deposits of a closely linked company were treated as value equivalent property and the attachment was sustained even without direct tracing of proceeds of crime, because the Tribunal found a sufficient nexus through common directorship, shareholding and the need to secure the quantified fraud amount. The appellant's claim that its bank account and deposits belonged to an independent legal entity did not justify release, as the separate corporate identity was not decisive on the facts. The appeal therefore failed and the provisional attachment remained in force. Case-Laws Money Laundering Thu, 13 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789937