Property Attachment Under PMLA Section 5 Invalidated Due to Procedural Violations and Lack of Legal Prerequisites

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....AT ruled that the attachment of property under Section 5 of PMLA is illegal and unsustainable. The Enforcement Directorate failed to follow mandatory procedural requirements for property retention, specifically under Sections 17(4) and 20. The statutory conditions for attachment were not met, as the property was already in ED's custody, thereby negating the legal prerequisites of possession by a person and potential risk of concealment or transfer. Consequently, the impugned order was set aside and the appeal was allowed, effectively invalidating the property attachment.....