Allowed
FPA-PMLA-1149/KOL/2015 of Pradip Kumar Hirawat v/s The Joint Director Directorate of Enforcement, Kolkata
ATFPFPA-PMLA-1149/KOL/2015
Case brief
AI extract
What is this about?
The Tribunal set aside an impugned order confirming provisional attachment of eight immovable properties mortgaged with State Bank of India and Union Bank of India. The Court held that since the properties were acquired prior to the alleged criminal acts and mortgaged to bona fide banks, they could not be treated as proceeds of crime, relieving the banks of attachment under PMLA and affirming thei
What did the court decide?
The impugned order dated 02.07.2015 and provisional attachment order dated 04.02.2015 were set aside; all eight properties were released from attachment immediately.