PNB Fraud Case | ATFP upholds attachment of Nirav Modi’s aide’s New York property worth $ 7.1 million by ED
Hearing an appeal filed by co-accused Mihir Bhansali’s wife, the Tribunal stated that PMLA, 2002 entitles the attachment of proceeds of crime which are either generated as a result of criminal activity relating to a scheduled offence, or, equivalent value, or, where such proceeds of crime is taken, or, held outside the country.