PMLA
Supreme Court Issues Notice On Former Excise Commissioner's Plea Seeking Bail In Chhattisgarh Liquor Scam Case
The Supreme Court on Friday issued notice in a plea by Niranjan Das, former Excise Commissioner, challenging the denial of bail in a money laundering case linked to the alleged Multi-Crore Chhattisgarh liquor scam. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M. Pancholi listed the matter for hearing on May 18. The case pertains to allegations that illegal liquor operations were carried out through State-run outlets, generating proceeds of crime through a...
PMLA Appellate Tribunal Upholds ₹3.33 Crore Attachment Against Dr Jagdeesh Sagar, Wife In Vyapam PMT Scam
The Appellate Tribunal under the Prevention of Money Laundering Act has recently upheld the attachment of assets worth about Rs. 3.33 crore in the Vyapam-linked Pre-Medical Test (PMT) exam scam. It held that properties can be attached even if they are in the name of a spouse, as long as they are linked to proceeds of crime. A bench of member V. Anandarajan upheld the 2015 order confirming the Enforcement Directorate's actions against Dr. Jagdeesh Sagar and his wife Dr. Sunita Sagar. “In...
Proceeds Untraceable: PMLA Appellate Tribunal Upholds ED Attachment Of Equivalent Value Property
The Appellate Tribunal under the Prevention of Money Laundering Act has upheld the attachment of properties worth about Rs 1.63 crore linked to the alleged Delhi Jal Board contract case, reiterating that when the proceeds of crime cannot be traced, authorities are within their rights to attach assets of equivalent value.The ruling came while dismissing appeals filed by NKG Infrastructure Ltd., Anil Kumar Aggarwal, and Poonam Aggarwal. The bench of Justice Munishwar Nath Bhandari and Member...
Delhi Excise Policy Case: PMLA Appellate Tribunal Upholds ₹24.25 Cr Attachment Of Properties Of Gautam Malhotra, Companies
The PMLA Appellate Tribunal (Appellate Tribunal under SAFEMA) has upheld the attachment of properties linked to Diamond Liquors Pvt. Ltd., Gautam Malhotra, and Gautam Wines Pvt. Ltd., rejecting their challenge to the attachment of Rs. 24.25 crore in a case arising from allegations of kickbacks and cartelization under the Delhi Excise Policy 2021 to 22. A coram led by Chairman Justice Munishwar Nath Bhandari, along with Member G. C. Mishra, found that the funds were not incidental but were used...
PMLA Appellate Tribunal Sets Aside ED Attachment Of Mortgaged Properties In Samprash Foods Case
The PMLA Appellate Tribunal (Appellate Tribunal Under SAFEMA) on Wednesday set aside the Enforcement Directorate's attachment of properties mortgaged to IDBI Bank and Union Bank of India in a money laundering case linked to Samprash Foods Ltd., accepting the banks' contention that the action did not meet the requirements of Section 5(1) of the Prevention of Money Laundering Act (PMLA), 2002.Member V. Anandarajan held that the ED had not shown, on record, that the attached properties were...
PMLA Appellate Tribunal Upholds ED Attachment Of Rs. 3.16 Crore Properties In MPS Greenery Developers Case
The Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) at New Delhi has upheld the attachment of properties worth about Rs 3.16 crore linked to Pramatha Nath Manna in connection with the MPS Greenery Developers Ltd case. A coram of members, Balesh Kumar and Rajesh Malhotra, dismissed the appeals challenging the Provisional Attachment Order dated March 28, 2018, which had been confirmed by the Adjudicating Authority on September 18, 2018 under the Prevention of Money...
AgustaWestland Case: PMLA Appellate Tribunal Upholds ED Attachment Of ₹6.33 Crore Properties Of Media Exim
The Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) in New Delhi on Thursday upheld the attachment of properties acquired by Media Exim Pvt. Ltd. using about Rs 6.33 crore alleged to be linked to proceeds of crime in the AgustaWestland VVIP helicopter deal, dismissing appeals filed against the Enforcement Directorate's action. A single-member bench of V. Anandarajan rejected appeals filed by J.B. Subramaniyam, Bhanu Nanda and Media Exim Pvt Ltd challenging the...
No Proof Of Proceeds Of Crime, PMLA Appellate Tribunal Sets Aside ED Attachment Based On Common Directorship
The PMLA Appellate Tribunal (Appellate Tribunal under SAFEMA) recently set aside the provisional attachment of six immovable properties valued at Rs 23.85 crore belonging to multiple third-party entities, holding that the Enforcement Directorate cannot sustain attachment in the absence of any proven flow of “proceeds of crime” and that mere common directorship or shareholding is insufficient to establish such a nexus. A coram comprising Member V. Anandarajan allowed appeals filed by Suncity...
Property Purchased Before PMLA Can Be Attached If Derived From "Proceeds Of Crime": Delhi High Court
The Delhi High Court on Monday 16 March, held that the offence of money laundering is a continuing offence, and property purchased from “proceeds of crime” can be attached under the Prevention of Money Laundering Act, 2002 (PMLA), even if it was acquired prior to the Act coming into force. A Division Bench comprising Justice C Hari Shankar and Justice Om Prakash Shukla upheld the provisional attachment order issued by the Enforcement Directorate (ED). The Bench observed: “Viewed thus, so long...
SAFEMA Tribunal Confirms ₹50 Lakh ED Attachment In Syndicate Bank Bribery Case Linked To Former CMD
The Appellate Tribunal under SAFEMA on 12 March held that the provisional attachment of Rs. 50 lakh recovered from the close relatives of Syndicate Bank's former CMD constitutes proceeds of crime under the Prevention of Money Laundering Act (PMLA). A Bench comprising Members Balesh Kumar and Rajesh Malhotra allowed the appeal filed by the Directorate of Enforcement (ED), setting aside the order of the Adjudicating Authority, which had earlier declined to confirm the provisional attachment of...