Which of the following statements is/are correct with reference to the attachment of property?

Answer & Explanation

Option: Both A & B

Explanation:

The attached properties include Farooq Abdullah’s Gupkar Road residence in Srinagar, where he lives. They also include two other residential properties in Tangamarg and Sunjwan, apart from commercial properties on Srinagar’s Residency Road. Under PMLA, proceeds of crime money generated out of a criminal activity — is attached on the directions of the ED Director. However, if that wealth is not available, the agency can attach property equivalent to that value.