The Karnataka High Court held that the Enforcement Directorate must strictly comply with statutory requirements before provisionally attaching property under the PMLA, emphasizing that mere reproduction of legal provisions cannot replace genuine application of mind or justify attachment without specific material supporting such action.
The Supreme Court of India ruled that National Company Law Tribunal and National Company Law Appellate Tribunal cannot review attachment orders under the Prohibition of Benami Property Transactions Act, 1988, even if linked to Insolvency and Bankruptcy Code, 2016 proceedings, dismissing liquidators’ appeals.
Bihar Police propose establishing 100 fast-track courts to expedite justice, focusing on cases involving illegal assets. DGP Vinay Kumar highlighted the need for quicker trials as pending cases have surged to nearly 17 lakh. Strong actions against corrupt officials, regardless of their status, will be prioritized to tackle illegal wealth effectively.