Case Law Analysis
|Karnataka High Court
Section 5 PMLA | Provisional Attachment Invalid Without Specific Reasoning on Imminent Frustration Risk: Karnataka HC
The Karnataka High Court quashed a provisional attachment order under the PMLA for failing to demonstrate a concrete risk of asset dissipation. The ruling underscores that statutory compliance in recording reasons is jurisdictional, not merely procedural, affecting enforcement agencies' powers under anti-money laundering laws.