Appellant sought interim stay against enforcement authorities' demand for possession of proceeds of crime pending determination of appeal. Court granted status quo and adjourned hearing.
Status quo maintained till next hearing date; matter listed for 19th October 2016.
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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI
MP-PMLA-2813/MUM/2016 (Stay) FPA-PMLA-1491/MUM/2016 SRB Developers … Appellant/Applicant Versus The Deputy Director Directorate of Enforcement, Mumbai … Respondent
Advocates/Authorized Representatives who appeared
| For the appellant | : | Shri Gurmehar S. Sistani, Advocate |
|---|---|---|
| For the respondent | : | Shri Neeraj Atri, Advocate |
| CORAM | ||
| JUSTICE MANMOHAN SINGH | : | CHAIRMAN |
| SHRI KAUSHAL SRIVASTAVA | : | MEMBER |
| SHRI ANAND KISHORE | : | MEMBER |
ORDER 07.10.2016
FPA-PMLA-1491/MUM/2016 & MP-PMLA-2813/MUM/2016 (Stay)
The matter was mentioned by Shri Gurmehar S. Sistani, Advocate on urgent basis with advance notice to the learned counsel of the respondent. We have heard the matter for some time. Issue notice in the appeal as well as interim application. Shri Neeraj Atri, Advocate learned counsel for the respondent accepts notice and seeks time to file the reply. He submits that the other matters arising out of the same O.C. are coming up on 19th October, 2016 and this matter may also be taken up on same day.
FPA-PMLA-1491/MUM/2016
Page 1 of 3
Mr. Gurmehar S.Sistani, Advocate stated that subsequent to the impugned order dated 11.08.2016 passed by the Adjudicating Authority, as per letter dated 26.09.2016 from their Bank which has been received by them on 06.10.2016, the Enforcement Directorate Authorities have issued a letter dated 20th September, 2016 to take possession of the proceeds of crime amounting Rs. 1 crore 15 lakhs by way of Demand Draft in the name of the respondent. He submits that they have a good “ prima facie” case on merits. He also submitted that the alleged proceeds of crime vis. a vis . the present appellant which has been confirmed under the impugned order are to the extent of Rs. 1 crore 15 lakhs only and their related Bank account which was provisionally attached and under debit freeze has a higher amount therein as on today. He therefore submitted that if an amount of Rs. 1 crore 15 lakhs was to be transferred to the respondent by Demand Draft, the appeal and Interim Application filed by them would be rendered infructuous and he therefore requests for interim protection. The learned Advocate, on instruction also stated that his client is prepared to secure the sum of Rs. 1 crores 15 lakhs pending the hearing of the appeal as well as application. He also stated that as regard the mode of securing of the amount, he will take further instruction from his client.
Shri Neeraj Atri, Advocate learned counsel for the respondent seeks time to obtain the instructions in the matte; he however does not oppose the grant of interim relief by way of status quo order till the next date of hearing.
Considering the facts and circumstance as discussed above both sides are directed to maintain the “ status quo” till the next date of hearing. FPA-PMLA-1491/MUM/2016 Page 2 of 3
Page 2 of 3
List on 19th October, 2016.
Order be given “ Dasti ” to both sides.
(Justice Manmohan Singh) Chairman
(Kaushal Srivastava) Member
New Delhi, 7th October, 2016.
‘s’
FPA-PMLA-1491/MUM/2016
Page 3 of 3
SRB Developers
The Deputy Director Directorate of Enforcement, Mumbai
Manmohan Singh
Kaushal Srivastava
Anand Kishore
As recorded by the court registry
19 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
