Delhi HC: Ancestral property can be attached under PMLA if property represents value equivalent to proceeds of crime
“The plea of the property being ancestral does not ipso facto grants immunity from attachment under the PMLA.”
Attachment of property
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.
Delhi Court orders conditional stay on attachment of Bikaner House; Directs payment of decretal amount in terms of Arbitral Award
The Court had ordered the attachment of the Bikaner House to enforce payment since neither did the Nagar Palika of the State of Rajasthan comply with the court order to file an affidavit of assets nor did it pay the petitioner per the arbitral award.
Patiala House Court orders attachment of Bikaner House to enforce payment under an arbitral award
The Nagar Palika of the State of Rajasthan failed to comply with court order to file an affidavit of assets despite being given multiple opportunities and failed to pay the petitioner in accordance with the arbitral award.
SAT reverses SEBI’s order in Arshad Warsi’s pump and dump case
Securities Appellate Tribunal: In the instant appeal filed against the ex parte ad-interim order passed by the Whole Time Members (WTM) of
Judgment Debtor’s right under Rule 60 of Second Schedule of Income Tax Act a valuable right to save his property; cannot be taken away on technical ground or bona fide mistake for which he is not at fault: SC
Supreme Court: The bench of MR Shah* and BV Nagarathna, JJ has held that the right available to the judgment debtor under
[Benami Property] Madras High Court | Writ shall not be entertained against a mere show cause notice; Upholds order of Deputy Commissioner, IT
Madras High Court: A Division Bench of R. Mahadevan and Sathya Narayana Prasad, JJ. approved the orders of the Deputy
“Value Equivalent” attachment of property – An emerging concept of debate under PMLA 2002
by Dr M.S. Krishna Kumar*
Section 102 CrPC doesn’t empower police to attach, seize and seal an immovable property
Supreme Court: The 3-judge bench of Ranjan Gogoi, CJ and Deepak Gupta and Sanjiv Khanna, JJ has held that the power of
PMLA | Special Court has the power to try offence of money laundering as well as scheduled offence
Appellate Tribunal for PMLA Act: The Coram of Ananya Ray (Member) directed to keep an appeal filed against an order directing attachment
Properties of Financial Establishments can be attached in order to protect the interest of investors
Supreme Court: Explaining the scope of the power of the State of Tamil Nadu to attach the immovable property of Financial Establishments
Sahara Matter: SEBI directed to attach the Subrata Roy’s Aamby Valley property
Supreme Court: Allowing SEBI to attach the properties belonging to Sahara Group, the Court directed Sahara to file a list of properties