https://www.taxtmi.com/caselaws?id=797834 Property attached and confirmed as proceeds of crime under the Prevention of Money Laundering Act, 2002 cannot be released merely because an equivalent bank guarantee is offered. The statutory framework preserves identifiable assets traceable to criminal activity for possible confiscation or restitution and contains no mechanism to substitute attached immovable property with security. Releasing the property could permit its sale, development, depletion, or further profit generation, undermining the objective of preventing enjoyment of proceeds of crime. The attachment therefore remains in force. en-us Fri, 17 Jul 2026 00:00:00 +0530 Fri, 28 Aug 2026 20:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797834 Property attached and confirmed as proceeds of crime under the Prevention of Money Laundering Act, 2002 cannot be released merely because an equivalent bank guarantee is offered. The statutory framework preserves identifiable assets traceable to criminal activity for possible confiscation or restitution and contains no mechanism to substitute attached immovable property with security. Releasing the property could permit its sale, development, depletion, or further profit generation, undermining the objective of preventing enjoyment of proceeds of crime. The attachment therefore remains in force. Case-Laws Money Laundering Fri, 17 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797834