Legal case related to money laundering and attachment of ...

Court Upholds Property Attachment for Money Laundering; Defines 'Proceeds of Crime' and Validates Provisional Order.

November 19, 2024

Case Laws Money Laundering HC

Legal case related to money laundering and attachment of properties. It discusses the evolving definition of 'proceeds of crime' under the 2002 Act, allowing authorities to attach properties equivalent in value even if not directly derived from criminal activities. The court upheld the provisional attachment order, stating the authorized officer fulfilled the 'reason to believe' requirement based on seized electronic records and fake e-Rawana bills. It clarified that filing a report under CrPC 173 is not mandatory for provisional attachment. The court interpreted the word 'immediately' as directory rather than mandatory and found no merit in quashing the order, given the availability of an adjudication process and alternative remedies. Disputed factual questions regarding illegal mining activities and NGT penalties were also mentioned.

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Legal case related to money laundering and attachment of ...

Court Upholds Property Attachment for Money Laundering; Defines 'Proceeds of Crime' and Validates Provisional Order.

November 19, 2024

Case Laws Money Laundering HC

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