If the bank is an innocent party and victim from the hand of ...

Bank's Secured Mortgages Protected Under PMLA, Cannot Be Attached If Borrowed Without Criminal Proceeds Involvement.

April 2, 2019

Case Laws Money Laundering AT

If the bank is an innocent party and victim from the hand of borrowers, who mortgaged the properties which were not acquired from the proceed of crime, being a secured creditors, the mortgaged properties cannot be attached under PMLA

View Source

← Previous Next →

If the bank is an innocent party and victim from the hand of ...

Bank's Secured Mortgages Protected Under PMLA, Cannot Be Attached If Borrowed Without Criminal Proceeds Involvement.

April 2, 2019

Case Laws Money Laundering AT

You may also like:

AT ruled against Bank's challenge to property attachment under Prevention of Money Laundering Act (PMLA). Despite Bank's prior mortgage rights and claim as fraud victim,...

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...

Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

Attachment of Bank Accounts of petitioner for recovery of GST of third party - the bank accounts of ZIPL cannot be attached for securing the revenue of another taxable...

Valuable right of recovery of petitioner as secured creditor - Tax recovery proceedings - priority to secured creditors - equitable mortgage created by the bank - The...

Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act...

The AT examined the attachment of properties under PMLA in a money laundering case. The tribunal held that properties can be attached even if mortgaged, as the...

The HC held that exercising its inherent powers u/s 482 CrPC to prevent abuse of process and secure ends of justice, none of the ingredients for money laundering offense...

Challenge to DRT order allowing sale of mortgaged property below reserve price. Unsecured creditor treated as secured creditor, prioritized over original secured...

Offence under PMLA - attachment orders - The banks are innocent parties. One is failed to understand after filing the reply, the banks are un-necessary dragged in the...

Release of provisionally attached properties - the order passed under Section 5(1) of PMLA, provisionally attaching the property is subject to confirmation by the...

The HC held that the petitioner bank, being a secured creditor whose security interest was registered with CERSAI prior to the State Tax Department's attachment order,...

Money laundering case involving scheduled offence and proceeds of crime. Trust property attached under PMLA despite Trust being bona fide receiver without knowledge of...

Petition u/s 227 of Criminal Procedure Code for discharge dismissed. Allegations in complaint constitute offence of money laundering u/s 3 of PMLA. Prosecution of...

Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

Quick Updates: