AT determined appellants failed to substantiate legitimate ...

Undisclosed Funds Expose Family's Asset Concealment: PMLA Section 5(1) Validates Property Attachment After Comprehensive Financial Investigation

May 31, 2025

Case Laws Money Laundering AT

AT determined appellants failed to substantiate legitimate income sources for property acquisitions between 1980-2013. Bank account scrutiny and investigation revealed significant cash deposits and property purchases without verifiable financial origins. Despite claims of gifts and agricultural income, no credible evidence was presented to justify asset accumulation. The tribunal found properties in names of multiple family members were acquired through undisclosed funds, rendering attachment under PMLA Section 5(1) valid. Consequently, the appellants' challenges were rejected, and all appeals were summarily dismissed, confirming the original property attachment order.

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AT determined appellants failed to substantiate legitimate ...

Undisclosed Funds Expose Family's Asset Concealment: PMLA Section 5(1) Validates Property Attachment After Comprehensive Financial Investigation

May 31, 2025

Case Laws Money Laundering AT

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