SC Allows M3M Group to Replace Land Parcel Attached in PMLA Case

The order could set a precedent for other companies entangled in proceedings under PMLA

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NEW DELHI: In a significant ruling under the Prevention of Money Laundering Act, 2002 (PMLA), the Supreme Court on Monday allowed real estate major M3M Group to substitute a parcel of land that was previously attached by enforcement agencies with an alternative property of equivalent or higher value.

The landmark order, delivered by a bench comprising Justice Pamidighantam Sri Narasimha and Justice R. Mahadevan, marks a pivotal moment in the evolving interpretation of PMLA—balancing the government's interest in securing alleged proceeds of crime with the need to protect legitimate economic activity.

The Court's decision allows M3M to unlock the commercial use of the attached land parcel, enabling ongoing development while ensuring the enforcement directorate retains security over an equivalent asset.