Impact of PMLA Attachments on Secured Creditors
For secured creditors, the value of security has traditionally rested on a straightforward proposition: if a borrower defaults, the lender should be able to enforce its security and recover its dues. The Prevention of Money Laundering Act, 2002 (PMLA) complicates that proposition. Where the Enforcement Directorate attaches an asset under the PMLA, a secured creditor […]