PMLA&FEMA
PMLA Appellate Tribunal Upholds ED Attachment Of Rs. 3.16 Crore Properties In MPS Greenery Developers Case
The Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) at New Delhi has upheld the attachment of properties worth about Rs 3.16 crore linked to Pramatha Nath Manna in connection with the MPS Greenery Developers Ltd case. A coram of members, Balesh Kumar and Rajesh Malhotra, dismissed the appeals challenging the Provisional Attachment Order dated March 28, 2018, which had been confirmed by the Adjudicating Authority on September 18, 2018 under the Prevention of Money...
AgustaWestland Case: PMLA Appellate Tribunal Upholds ED Attachment Of ₹6.33 Crore Properties Of Media Exim
The Appellate Tribunal under the Prevention of Money Laundering Act (PMLA) in New Delhi on Thursday upheld the attachment of properties acquired by Media Exim Pvt. Ltd. using about Rs 6.33 crore alleged to be linked to proceeds of crime in the AgustaWestland VVIP helicopter deal, dismissing appeals filed against the Enforcement Directorate's action. A single-member bench of V. Anandarajan rejected appeals filed by J.B. Subramaniyam, Bhanu Nanda and Media Exim Pvt Ltd challenging the...
No Proof Of Proceeds Of Crime, PMLA Appellate Tribunal Sets Aside ED Attachment Based On Common Directorship
The PMLA Appellate Tribunal (Appellate Tribunal under SAFEMA) recently set aside the provisional attachment of six immovable properties valued at Rs 23.85 crore belonging to multiple third-party entities, holding that the Enforcement Directorate cannot sustain attachment in the absence of any proven flow of “proceeds of crime” and that mere common directorship or shareholding is insufficient to establish such a nexus. A coram comprising Member V. Anandarajan allowed appeals filed by Suncity...
SAFEMA Tribunal Confirms ₹50 Lakh ED Attachment In Syndicate Bank Bribery Case Linked To Former CMD
The Appellate Tribunal under SAFEMA on 12 March held that the provisional attachment of Rs. 50 lakh recovered from the close relatives of Syndicate Bank's former CMD constitutes proceeds of crime under the Prevention of Money Laundering Act (PMLA). A Bench comprising Members Balesh Kumar and Rajesh Malhotra allowed the appeal filed by the Directorate of Enforcement (ED), setting aside the order of the Adjudicating Authority, which had earlier declined to confirm the provisional attachment of...
SAFEMA Tribunal Sets Aside Forfeiture Of Property Bought Nine Years Before Smuggling Offence
A property purchased nine years before a smuggling offence cannot be forfeited on mere assumption that it was funded through illegal earnings, the Appellate Tribunal under SAFEMA has held, setting aside a 2023 forfeiture order against a Karaikal resident. The tribunal held that the competent authority failed to establish any “link or nexus” between the 1990 purchase of the property and a 1999 smuggling case. Member V. Anandarajan observed that the authority had acted on assumption without...
Special PMLA Court Discharges DHFL From Money Laundering Case After Insolvency Resolution
The Special Court under the Prevention of Money Laundering Act at Mumbai has discharged Dewan Housing Finance Corporation Limited (DHFL) from the money-laundering case linked to former Yes Bank Managing Director and CEO Rana Kapoor. Additional Sessions Judge R. B. Rote held that the company could not be prosecuted after its insolvency resolution resulted in a complete change in management. DHFL, now known as Piramal Capital and Housing Finance Limited, had approached the Special Court seeking...
Bombay High Court Refuses To Quash FIR, ED Probe Against Ex-Religare Chairperson Rashmi Saluja
The Bombay High Court has dismissed writ petitions filed by Dr Rashmi Saluja, former Executive Chairperson and key managerial person of Religare Enterprises Limited (REL), challenging an FIR registered against her in September 2024 and the proceedings initiated by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act. A Division Bench of Chief Justice Shree Chandrashekhar and Justice Gautam A Ankhad refused to interfere with and FIR registered at Matunga Police Station,...
Non-Bailable Warrants Can't Be Issued Against Person Summoned As Witness Or Suspect During ED Probe: Delhi High Court
The Delhi High Court has held that non-bailable warrants (NBWs) can't be issued against a person who has only been summoned as a witness or suspect in a money-laundering investigation, unless such person is shown to be accused of non-bailable offence.Justice Amit Sharma thus quashed the NBWs issued by the Enforcement Directorate against UK-based businessman Sachin Dev Duggal in connection with money laundering allegations.ED had sought issuance of NBWs on the ground that Petitioner failed to...
Karnataka High Court Issues Notice To ED On WinZO's Plea Challenging Search, Seizure In PMLA Probe
The Karnataka High Court on Monday issued notice to the Enforcement Directorate (ED) on a petition filed by an online gaming company, Winzo Pvt Ltd, seeking to declare that the search and seizure carried out by the ED at its office between 18.11.2025 and 22.11.2025 in furtherance of an investigation in a money laundering case is illegal and void.Justice Suraj Govindaraj issued notice and directed the ED to file its response to the petition and posted the matter for further hearing on December...
Supreme Court Restores Property Of Corporate Debtor Attached Under PMLA To Successful Resolution Applicant
The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it.Section 8(8) allows the Special Court to direct the Central Government to restore property that has been confiscated under the Act to a person or claimant who has a legitimate interest in it, upon conclusion of the trial. However, second...
Property From Illegal Cricket Betting Activities Constitutes 'Proceeds Of Crime', Can Be Attached By ED: Delhi High Court
The Delhi High Court has held that though cricket betting is not a separate predicate offence under Prevention of Money Laundering Act, 2002, the property generated from such illegal activities can be attached by the Enforcement Directorate.A division bench of Justices Anil Kshetarpal and Harish Vaidyanathan Shankar observed that the scope of Section 2(1)(u) PMLA, which defines proceeds of crime, is very wide.“Even if a downstream activity, such as conducting betting, is not a scheduled offence,...