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 up for hearing on the limited question of grant of interim orders. 2. The facts, in a nutshell, are as follo...