Allowed
FPA-PMLA-937/MUM/2015 of Nilesh J. Thakur v/s The Joint Director Directorate of Enforcement, Mumbai
ATFPFPA-PMLA-937/MUM/2015
Case brief
AI extract
What is this about?
The tribunal heard appeals against provisional attachment orders under the PMLA involving funds received by the appellant from Shapoorji Pallonji & Co Ltd. Relying on ITAT judgments establishing the funds were legitimate business advances, the tribunal held the attachment lacked basis and allowed the appeals, quashing the orders.
What did the court decide?
All impugned orders of the Adjudicating Authority and the Provisional Attachment Orders were set aside and quashed.