Court Rules Secured Creditors Protected Under PMLA: Innocent Banks Can Keep Properties Unlinked to Criminal Proceeds.

Offence under PMLA - bank is an innocent party and victim from the hand of borrowers, being a secured creditors, the mortgaged properties cannot be attached equivalent to the value thereof if the said properties are not purchased from the proceed of crime or as a result of criminal activity at the time of sanctioning the loan. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X