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2014 (12) TMI 1388 - AT - Money LaunderingProvisional attachment of property involved in money laundering - attachment on the ground that the said property was acquired by the Appellant from the proceeds of crime - existence of scheduled offence or not - HELD THAT:- The attachment of a property is liable to be vacated, if the existence of a scheduled offence is negated as the generation of proceeds of crime will also be negated. Therefore, in these facts and circumstances, attachment of proceeds of crime cannot continue, if the alleged scheduled offence is not established after trial. Given the scheme of the PMLA, attachment of property (proceeds of crime) must be lifted, if it is found that the scheduled offence and, on the basis of which attachment was effected, does not exist. In absence of a scheduled offence, the question of existence of any proceeds thereof, will not arise. Therefore, the attachment of the property is liable to be vacated, as in absence of scheduled offense, it cannot be inferred that the proceeds of crime were generated and the property by the Appellant had been purchased and constructed by the proceeds of crime generated by her husband. The Hon'ble Delhi High Court in Rajiv Chanana Vs Dy. Director, Directorate of Enforcement [2014 (10) TMI 436 - DELHI HIGH COURT] had also held that in absence of scheduled offense, the attachment of property cannot continue. The property as described herein above is released from attachment - Appeal allowed - decided in favor of appellant.
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