Mere Reproduction of Statutory Language Does Not Constitute “Reason to Believe” Under PMLA: Karnataka HC
In Jayamma v. Directorate of Enforcement, 2026:KHC:25829, the Karnataka High Court set aside a provisional attachment order issued under Section 5(1) of the Prevention of Money Laundering Act, 2002 (“PMLA”), holding that mere reproduction of the statutory language contained in the Second Proviso to Section 5(1) cannot substitute the mandatory requirement of recording an independent […]