Allowed
FPA-PMLA-1004/MUM/2015 of Dhan Share Trading Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Mumbai
ATFPFPA-PMLA-1004/MUM/2015
Case brief
AI extract
What is this about?
Appellate Tribunal allowed appeals challenging provisional attachment orders under the PMLA. The court quashed the orders, holding that funds were legitimate business advances based on a valid contract, not proceeds of crime, supported by subsequent ITAT orders.
What did the court decide?
The impugned orders passed by the Adjudicating Authority were set aside and the Provisional Attachment Orders were quashed. All appeals were disposed of.