Provisional attachment order under PMLA on presumption without any reasonable or factual basis was to be set aside

FEMA/PMLA : Where immovable properties of appellant were attached categorizing Share Application Money (SAM) received by appellant from various individuals/companies as Proceeds of Crime generated due to coal block allotment obtained by appellant by making misrepresentation, since there was nothing on record to show that allocation of coal block was used as allurement to such investors, order confirming provisional attachment passed by adjudicating authority on presumptions without any reasonabl

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