NEW DELHI: Delhi High Court has ruled that the ancestral property is not immune from attachment in money laundering cases if it represents a value equivalent to ‘proceeds of crime’ currently not available.
The bench made the observation while hearing a petition by a man whose property in Sainik Vihar was provisionally attached by the ED. The bench held that the stance that ancestral property could not be attached unless it was purchased from illicit funds was “misconceived and contrary to the scheme of PMLA ”.