Delhi High Court Ruling on Coal Block Allocation
The Delhi High Court has ruled that a coal block allocation letter constitutes property under the Prevention of Money Laundering Act (PMLA).
The court stated that
the evolution of Intellectual Property laws now comprehends rights such as copyrights, trademarks, design rights, patents, licenses, digital assets and contractual entitlements, all of which are firmly recognised as valuable forms of property within the framework of common law.
This decision overturned a previous single-judge judgment from July 2022, which held that the allocation of a coal block could not be considered proceeds of crime under the PMLA.
- The case originated from a plea filed by Prakash Industries Limited (PIL) against a provision attachment order (PAO) issued by the Enforcement Directorate (ED).
- The order was subsequently challenged before the High Court after being placed for confirmation before the Adjudicating Authority (AA).
Author's summary: Court rules coal block allocation as property under PMLA.
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