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No Proof of Source: Tribunal Upholds Attachment of Cash-Paid Property
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- Case Name
- Rami Reddy Vs Deputy Director (Appellate Tribunal Under SAFEMA Delhi)
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Rami Reddy Vs Deputy Director (Appellate Tribunal Under SAFEMA Delhi)
Cash-Paid Property Found Dubious – Unregistered ₹80 Lakh Cash Deal Fails – Tribunal Rejects Bona Fide Purchaser Claim
Appellant challenged the Adjudicating Authority’s order dated 08.06.2018 confirming Provisional Attachment Order No. 03/2017 under the Prevention of Money Laundering Act, 2002 (PMLA), covering two Hyderabad properties allegedly linked to the Future Maker Life Care Ltd. Ponzi scheme case.
Rami Reddy claimed he was a bona fide purchaser of the attached penthouse through an unregist...
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