Asset Freeze on Non-Accused Family Members Upheld During Pending PMLA Proceedings

N. K. Proteins Ltd. Vs Deputy Director (Appellate Tribunal Under SAFEMA Delhi) PMLA Tribunal Upholds ED Seizure in NSEL Scam – Pending PMLA Complaint Enough to Continue Retention; Even Non-Accused Family Member’s Assets Can Be Frozen The Appellate Tribunal under SAFEMA, New Delhi, dismissed the appeals filed by N.K. Proteins Ltd., its directors and related entities challenging the seizure and continued retention/freezing of cash and luxury vehicles by the Enforcement Directorate in the NSEL money-laundering investigation. The Tribunal held that once a prosecution complaint under PMLA i...