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2010 (5) TMI 914 - AT - Money LaunderingExtract: .......al gain from sale of 23,79,772 shares of IDFC in the hands of the appellant are not proceeds of crime and hence not involved in money laundering. Resultantly, the appellant is not covered under the provisions of the Act. For the reasons aforesaid, the appeal is allowed and impugned order of Adjudicating Authority confirming attachment is set aside.
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