SAFEMA directs Bank Account Release on Deposit of Alleged Crime Proceeds

Stealth Bridge Pvt. Ltd. Vs Deputy Director (Appellate Tribunal Under SAFEMA Delhi) PMLA Tribunal Orders Release of Attached Bank Account on Deposit of Alleged Proceeds of Crime The PMLA Appellate Tribunal directed the release of a provisionally attached bank account after the appellant company agreed to deposit ₹10 lakh, representing the alleged proceeds of crime, with the Directorate of Enforcement (ED). The amount is to be kept in a fixed deposit or dealt with in accordance with law and will remain subject to the final outcome of the criminal proceedings. The appellant contended that ₹1...