The SAFEMA Tribunal has set aside a PMLA attachment worth ₹161.22 Crore after determining that the underlying scheduled offences were quashed or judicially interfered with. This ruling highlights the necessity of a predicate offence for imposing PMLA attachments.
No Predicate Offence, No PMLA Attachment
The SAFEMA Tribunal recently ruled in favor of a petitioner by lifting a PMLA attachment worth ₹161.22 crore. The Tribunal set aside the attachment on the grounds that the scheduled offences which formed the basis of the PMLA case had been quashed, discharged, or otherwise interfered with through judicial proceedings.
The judgment clarified that without the existence of a predicate offence, the grounds for maintaining the PMLA attachment cannot stand. In this case, the Tribunal underscored that the proper legal foundation must precede any PMLA action, thus reiterating the fundamental principle of legality in the application of the Act.
Legal professionals should note that this ruling cements the requirement for a predicate offence as a prerequisite for PMLA proceedings and may significantly influence future cases involving PMLA attachments where the foundational offences have been challenged.
Citations
- SAFEMA Tribunal (2026) Volume Reporter Page
