ED Cannot Attach Bank-Mortgaged Properties Under PMLA: Karnataka HC

Directorate of Enforcement Vs Asadhullah Khan (Karnataka High Court) Bank’s Secured Assets Cannot Be Attached by ED – SARFAESI Rights Prevail Over PMLA Proceedings -Karnataka HC Background The Directorate of Enforcement (ED) filed these four appeals under Section 42 of the PMLA, 2002 challenging the Appellate Tribunal’s order dated 18.09.2017 which had set aside the provisional attachment of certain properties belonging to Asadhullah Khan & his family members, all mortgaged to Syndicate Bank, Mandya Branch. The case originated from a CBI FIR (15.04.2009) against the then Branch M...