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Madras High Court noted that even in the counter, ED have not explained how the provisional attachment can be sustained on merits, in view of the sale in favour of the petitioners
The writ petitions raise an important question relating to the powers of the Enforcement Directorate (ED) to provisionally attach properties under Section 5 of the Prevention of Money Laundering Act, 2002 (PMLA) even though no proceedings relating to the predicate offense may have been initiated by the competent agency functioning under an independent statute and in terms of which the scheduled offense stands created.