PMLA Appellate Tribunal also releases assets of 63 Moons from ED attachment.

The PMLA Appellate Tribunal, on Tuesday released the assets of 63 moons from attachment by the Enforcement Directorate
(ED). This order comes soon after the Bombay High Court order, which quashed  the attachments of 63 moons assets under the MPID Act.
However, the Tribunal, after quashing the attachment orders, has made it subject to filing of an indemnity bond within a week. The Tribunal has restrained 63 moons
from dealing with the released assets till pendency of the trial of the larger issues in the PMLA court. 63 moons, based on sound legal advice, is of the opinion that
passing of this sort of restraint order and of seeking an indemnity bond, particularly when the orders of attachment have been quashed, is beyond the power of the
Tribunal under the PMLA. 63 moons will take appropriate legal recourse against this part of the order.

Leave a Comment

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *

© 2021 - Legal News India – News Updates of Advocates, Law Firms, Law Institutes, Courts & Bars of India
Cookies help us deliver our services. By using our services, you agree to our use of cookies. More Information