M3M India: SC allows M3M to substitute attached property under PMLA in landmark ruling; experts hail economic balance
Supreme Court has permitted real estate firm M3M Group to replace provisionally attached property under the Prevention of Money Laundering Act (PMLA) with a substitute asset of equivalent or higher value. The ruling, handed down on July 2, 2025, is being hailed as a historic judgment that weighs up enforcement and economic realism. The bench of Justice Pamidighantam Sri Narasimha and Justice R. Mahadevan granted the plea while considering a Special Leave Petition preferred by M3M. According to the Court, in some situations, an attached property under PMLA can be substituted with the aim of ensuring continuity of business, subject to the condition that the substituted asset shall satisfy all safeguards of law….