No Retrospective Laundering: Tribunal Quashes Bulk PMLA Attachments, Retains Only Rs 25 Cr as Proceeds of Crime

Avinash Bhosale Vs Deputy Director Directorate of Enforcement (Appellate Tribunal Under SAFEMA Delhi) No Retrospective Laundering: Tribunal Quashes Bulk PMLA Attachments, Retains Only Rs 25 Cr as Proceeds of Crime The Appellate Tribunal under SAFEMA partly allowed the appeals and significantly curtailed the provisional attachment under PMLA in a case linked to the Yes Bank–DHFL loan diversion scandal, involving alleged layering of funds through entities of Avinash Bhosale. The Tribunal examined three distinct transactions alleged to be proceeds of crime and held that two major components of ...