Allowed
FPA-PMLA-1116/MUM/2015 of M/s Ace Card Trading Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Mumbai
ATFPFPA-PMLA-1116/MUM/2015
Case brief
AI extract
What is this about?
The Tribunal allowed appeals against provisional attachment orders. It held that funds received by appellants from SPCL were legitimate advances under a valid contract, not proceeds of crime. Consequently, the attachment orders were illegal and were set aside.
What did the court decide?
The impugned orders of provisional attachment were set aside and quashed against the subject properties.