PMLA Ruling: Partial Relief for Property Owners in Proceeds of Crime Investigation with Conditional Attachment Provisions

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Full Text of the Document

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....AT partially allowed appeals challenging provisional attachment of properties under PMLA. The tribunal set aside attachment orders for properties owned by Oli Jagdeesha and Oli Nirmala, finding no reasonable grounds to believe proceeds of crime would be concealed or transferred. The tribunal maintained attachment of properties owned by Dodda Siddappa. The order provides liberty to investigating agency to re-initiate proceedings if likelihood of concealment exists, contingent on withdrawal of prior attachment order by district court.....