Allowed
FPA-PMLA-1114/MUM/2015 of M/s Ace Card Trading Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Mumbai
ATFPFPA-PMLA-1114/MUM/2015
Case brief
AI extract
What is this about?
The Tribunal allowed appeals challenging provisional attachment orders under the PMLA. It set aside the attachment of properties and quashed the impugned orders, ruling that the attached funds were legitimate advances from a valid contract and not proceeds of crime, especially after a subsequent ITAT judgment confirming their lawful nature.
What did the court decide?
Impugned orders confirmed by the Adjudicating Authority were set aside; provisional attachment orders were quashed; all pending appeals were disposed of.