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2015 (12) TMI 1083 - HC - Money LaunderingProperty representing the proceeds of crime - attachment of the properties - Held that:- In the present case, the respondent failed to prove that the appellants did not have sufficient financial capacity to buy the property or that the money paid by them as sale consideration was not legitimate money derived by agricultural activities. No material was produced to show that the appellants are close relatives of person, who involved in criminal activities and the person, who sent monies to purchase the property did not possess financial capacity to provide such huge amounts and that they are not genuine purchasers of agricultural products of appellants. The respondent has not made any such investigation and has not produced any such material. Further, the Appellate Authority in fact considered the additional documents produced before it, but rejected the same on the ground that Appellants have not given any valid reasons for not filing the same before the Adjudicating Authority . Having considered the Additional documents, the appellate authority failed to give any finding on merits after verifying with the concerned Bank. In view of these facts, the judgment in Radha Mohan lakhotia's case [2010 (8) TMI 947 - BOMBAY HIGH COURT ]is in favour of the appellants as they have rebutted the presumption that the property in question is proceeds of crime.
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