The Karnataka High Court has refused WinZO US Inc. permission to move funds held in US bank accounts under ED attachment to another bank, saying a transfer would dilute the attachment.
“Keep it attached, but allow me to do other business.” That was Senior Advocate Siddharth Aggarwal’s submission as the Karnataka High Court reserved its order on the WinZO subsidiaries’ plea to shift ED-attached US bank funds. The attachment itself remains under challenge. Bengaluru: The Karnataka High Court on 7 October reserved its order on an […]
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.
