Home Case Index All Cases Money Laundering Money Laundering + HC Money Laundering - 2021 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 779 - HC - Money LaunderingMoney Laundering - proceeds of crime - power of Directorate of Enforcement to declare any property acquired by proceeds of crime - Section 5(4) of the PMLA, 2002 - HELD THAT:- A person who is interested relating to any immovable property or is claiming or is entitled to claim any interest in the property would be free to enjoy the said immovable property even if the same is attached. If the property is confiscated by the Central Government, such claimant with legitimate interest in the property or who may have suffered a quantifiable loss as a result of offence of money laundering may move appropriate application for restoration of such confiscated property or a part thereof - so far as interested person or any claimant is concerned, they did not have any locus to challenge the attachment order at all. While the statute protects them in some way but they have no say in respect to attachment which is essentially against the person who has procured the property by proceeds of crime. If such subsequent purchaser or interested person as explained under Section 5(4) is allowed to challenge the attachment, it would not only create a chaotic situation but it can be a method of subterfuge litigation by the main accused in getting himself let off in case relating to money laundering. The present petition filed by the interested persons to challenge the attachment order is found to be not maintainable as they did not have any locus standi to the said aspect - petition dismissed.
|