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IN THE HIGH COURT OF JUDICATURE AT BOMBAY NAGPUR BENCH, NAGPUR
M.S.JAWALKAR, NANDESH S.DESHPANDE
Joint Director, Enforcement Directorate – Appellant
Versus
Hdfc Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. tribunal granted secured creditor priority over pmla attachment challenged. (Para 2 , 3 , 4 , 5) |
| 2. pmla section 71 overrides inconsistent recovery statutes. (Para 6 , 7 , 8) |
| 3. proceeds of crime requires nexus to scheduled offence. (Para 9 , 10 , 11 , 12) |
| 4. broad proceeds definition upheld; remedy under pmla s8(8). (Para 13 , 14 , 15 , 16 , 17 , 18) |
| 5. timeline supports pmla attachment; tribunal appeal provision. (Para 19 , 20) |
| 6. delhi hc: pmla overrides sarfaesi/rdb priorities. (Para 21) |
| 7. supreme court confirms pmla precedence; reconcile statutes. (Para 22 , 23) |
| 8. quash tribunal order; bank seek special court release. (Para 24) |
| 9. appeals allowed; orders set aside. (Para 25 , 26 , 27) |
JUDGMENT :
M. S. Jawalkar, J.
Heard.
2. Admit. Heard finally with the consent of the learned counsel for the parties.
3. These appeals are filed under section 42 of the Prevention of Money Laundering Act, 2022 (For the sake of brevity hereinafter referred to as “PMLA”) before this Court. The present appeal bearing First Appeal No.1413 of 2017 is preferred for challenging the order dated 28/08/2017 passed by the Appellate Tribunal under the PMLA in Appeal No.FPA-PMLA-1368/GOA/ 2016. By the
PMLA overrides recovery statutes; no priority for secured creditors over attached proceeds of crime; bona fide claimants may seek Special Court restoration under section 8(8) post-attachment or confi....
The court upheld the necessity of exhausting statutory remedies under the Prevention of Money Laundering Act before invoking writ jurisdiction, affirming that 'proceeds of crime' includes property in....
Money Laundering – Provisional Attachment Order – Formation of opinion must bear a proximate and live nexus to purpose of protecting interest of Government revenue.
The Prevention of Money Laundering Act, 2002 proceedings are criminal in nature, necessitating appeals to be filed on the criminal side due to potential penalties including imprisonment and property ....
The main legal principle established is that properties to be proceeded against under PMLA must be connected to the criminal activity, and ex facie illegal acts can be interfered with under Article 2....
Provisional Attachment Orders must have justified legal grounding, requiring explicit evidence of connections to alleged criminal activity, and prior judicial conclusions limit enforcement authority ....
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