The SAFEMA Tribunal upheld the attachment of ₹1.01 crore under the PMLA, clarifying that a specific bribe allegation is not necessary under Section 13(1)(e). This decision reinforces the broader application of the PMLA in asset attachment cases involving disproportionate assets.
SAFEMA Tribunal Upholds PMLA Asset Attachment
The SAFEMA Tribunal has upheld the attachment of ₹1.01 crore as disproportionate assets under the Prevention of Money Laundering Act (PMLA). The Tribunal ruled that such attachments do not necessitate a distinct allegation of bribery under Section 13(1)(e) of the Prevention of Corruption Act.
This decision is significant as it broadens the interpretation of what constitutes disproportionate assets and how they can be seized. In reviewing the facts of the case, the Tribunal underscored the financial discrepancies that warranted the attachment, placing emphasis on the comprehensive nature of the investigations that lead to such orders.
Legal practitioners should be aware that this ruling may lead to heightened scrutiny in cases involving asset attachment under the PMLA. The precedent establishes that the absence of a specific bribery claim does not undermine the authority to attach assets deemed disproportionate.
Citations
- SAFEMA Tribunal (2026) SARFAESI 1
