Judicial Intervention Allows Property Auction Amid Money Laundering Probe, Protecting Secured Creditors' Interests Under PMLA Section 8(7)

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....The AT partially set aside the Provisional Attachment Order related to money laundering allegations involving fraudulent loan obtainment. The tribunal recognized the secured creditors' rights, allowing auction proceedings for mortgaged properties while directing the excess amounts be deposited as Fixed Deposit Receipts with ED. The decision preserves the auction sale in favor of the purchaser and permits SBI to proceed with e-auction under Section 8(7) of PMLA, 2002, subject to judicial oversight by the Special Judge. The excess realized amounts shall be maintained for potential claims by unsecured creditors, with final disposition contingent upon trial conclusion.....