Court Quashes Attachment Orders Under PMLA; Mortgaged Properties Not Proceeds of Crime; Banks Can Seek Remedies.

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Full Text of the Document

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....Offence under PMLA - challenge of attachment orders - Appellants have nothing to do and has no connection with the allegation of crime committed by the borrowers and the mortgage properties are admittedly not derived from criminal activities or proceed of crime - The bank and financial institution are entitled to take the remedy before the Special Court after the decision of appeal or during the pendency of appeals - attachment quashed....