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APPELLATE TRIBUNAL FOR FORFEITED PROPERTY
South Indian Bank – Appellant
Versus
Directorate of Enforcement – Respondent
| Table of Content |
|---|
| 1. fraudulent transactions involve substantial financial loss. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10) |
| 2. utilization of proceeds of crime for loan repayment and property acquisition. (Para 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18 , 19) |
| 3. attachment of properties under pmla for recovery of proceeds of crime. (Para 20 , 21) |
| 4. appellant bank claims legitimate interest in attached properties. (Para 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30) |
| 5. arguments on behalf of the respondents counter appellant's claims. (Para 32 , 33 , 34 , 35 , 36) |
| 6. respondents cite pmla provisions to justify attachment. (Para 37 , 38 , 39 , 40 , 41) |
| 7. court analysis highlights distinctions in claims and rights. (Para 42 , 43 , 44) |
| 8. court's conclusion dismisses the appeal. (Para 45 , 46) |
ORDER
28.01.2025
The instant appeal has been filed under section 26 of the Prevention of Money Laundering Act, 2002 (PMLA, 2002) against the order dated 03/03/2017, passed by the Ld. Adjudicating Authority(AA), wherein, the attachment of the following properties was confirmed:
Facts in brief
2. The Directorate of Enforcement, Sub Zonal Office, Dehradun registered a case vide ECIR/08/PMLA/DNSZO/2013 on 26.06.20
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