Allowed
FPA-PMLA-1155/KOL/2015 of Eela Jain v/s The Joint Director Directorate of Enforcement, Kolkata
ATFPFPA-PMLA-1155/KOL/2015
Case brief
AI extract
What is this about?
This judgment set aside an Adjudicating Authority's order confirming a Provisional Attachment Order under section 5 of the PMLA. The Tribunal held that properties acquired before the scheduled offenses and mortgaged to banks are not proceeds of crime, granting priority to secured creditors to recover dues.
What did the court decide?
The impugned order dated 02.07.2015 and the provisional attachment order dated 04.02.2015 were set aside, and all eight properties were released from attachment forthwith.