https://www.taxtmi.com/caselaws?id=798449 Provisional attachment under the Prevention of Money Laundering Act requires material establishing a likelihood that proceeds of crime will be concealed, transferred or otherwise dealt with to frustrate confiscation. Mortgages created in favour of secured creditors before attachment, coupled with an existing restraint on third-party rights and no auction, execution, attachment or sale process, did not establish that risk. Pending insolvency proceedings served to ensure an orderly resolution of competing rights. Accordingly, the statutory condition for confirming the provisional attachment was not met, and the properties remained subject to the final outcome of the insolvency proceedings. en-us Mon, 31 Aug 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798449 Provisional attachment under the Prevention of Money Laundering Act requires material establishing a likelihood that proceeds of crime will be concealed, transferred or otherwise dealt with to frustrate confiscation. Mortgages created in favour of secured creditors before attachment, coupled with an existing restraint on third-party rights and no auction, execution, attachment or sale process, did not establish that risk. Pending insolvency proceedings served to ensure an orderly resolution of competing rights. Accordingly, the statutory condition for confirming the provisional attachment was not met, and the properties remained subject to the final outcome of the insolvency proceedings. Case-Laws Money Laundering Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798449