AdvertisementV. Chamundeswarnath Vs Deputy Director (Appellate Tribunal Under SAFEMA Delhi) SAFEMA Appellate Tribunal: ED Cannot Continue Attachment of Plots Purchased with Accounted Money by Bona Fide Buyers for Fraud Committed by the Developer The Appellate Tribunal under SAFEMA allowed the appeals of four purchasers and held that villa plots purchased by bona fide buyers with accounted funds cannot be treated as “proceeds of crime” merely because the developer and its officials were allegedly involved in money laundering and diversion of sale proceeds. The Tribunal emphasized that the proper...