Mere Charging of shareholder under PMLA cannot be a ground to attach property of Company

Shree Hanuman Cotton Mills Ltd. Vs Union of India (Calcutta High Court)

Charging of shareholder under PMLA cannot be a ground to attach property of Company in proportion of shareholding unless there is an allegation that property was acquired from proceeds of crime.

FULL TEXT OF THE JUDGMENT/ORDER OF CALCUTTA HIGH COURT

1. Since learned counsel for the respondent no. 2 intends to file an affidavit-in-opposition to controvert the allegations made in the writ petition, the matter is taken

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