Partly allowed
FPA-PMLA-1582/ HYD/2016 of M/s. Silicon Infrastructure Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Hyderabad
ATFPFPA-PMLA-1582/ HYD/2016
Case brief
AI extract
What is this about?
This common order disposed of 14 appeals regarding the confirmation of provisional attachment orders under the PMLA. The Tribunal held that many attachments were erroneous as they constituted double attachment, clarified the law on beneficial ownership, and set aside the attachment regarding mining lease proceeds initially, ordering the ED to accept a bank guarantee instead of FDs for certain amou
What did the court decide?
The impugned order was modified; appeals against attachment of shares and certain properties at wrong valuation were allowed; attachment of FDs was set aside subject to furnishing a bank guarantee of