Supreme Court Restores Property Of Corporate Debtor Attached Under PMLA To Successful Resolution Applicant

The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it.Section 8(8) allows the Special Court to direct the Central Government to restore property that has been confiscated under the Act to...