This order lists a fresh appeal and a stay application arising from a provisional attachment order. It fixes dates for filing replies and appearances, and grants liberty to the respondent regarding a stay application pending affidavit filing.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI
MP-PMLA-2999/HYD/2016 (Misc.) MP-PMLA-2998/HYD/2016 (Stay)
FPA-PMLA-1582/ HYD/2016
M/s Silicon Infrastructure Pvt. Ltd.
… Appellant/Applicant
Versus
The Joint Director … Respondent Directorate of Enforcement, Hyderabad
Advocates/Authorized Representatives who appeared
| For the appellant | : Sh. Raghenth Basanth, Advocate Sh. Yogesh Raavi, Advocate |
|---|---|
| For the respondent | : Sh. S.A. Saud, Advocate |
| CORAM | |
| JUSTICE MANMOHAN SINGH | : CHAIRMAN |
| SHRI KAUSHAL SRIVASTAVA | : MEMBER |
| SHRI ANAND KISHORE | : MEMBER |
ORDER 07.02.2017
FPA-PMLA-1582/ HYD/2016
Fresh appeal has been filed by the appellant. Issue notice to the respondent. Mr. S.A. Saud, learned counsel for the respondent accepts notice and seeks time to file the reply. Let the reply be filed within six weeks with an advance copy to the learned counsel for the appellant who may file the rejoinder within four weeks thereafter.
List for consideration on 15th May, 2017, the date already fixed in other matters. Both the parties are allowed to file the written synopsis on or before next date of hearing.
FPA-PMLA-1582/HYD/2016
Page 1 of 3
MP-PMLA-2998/HYD/2016 (Stay)
Along with the appeal the stay application has been filed. While passing the order the Adjudicating Authority confirmed the Provisional Attachment Order dated 29th June, 2016 in respect of the following properties:-
| Sl. No. | Description of theproperty | Amount | Name of theparty |
|---|---|---|---|
| 1. | Tangible Fixed Assets as detailed in the Audited Balance Sheet for 2013-14. |
6,54,21,540 | M/s Silicon Infrastructure Pvt. Ltd. |
| 2. | 2,08,50,000 numbers of 0% Convertible Preference Shares of M/s Sandur Power Company Pvt. Ltd. |
20,85,00,000 | M/s Silicon Infrastructure Pvt. Ltd. |
With regard to the Sl. No. 2 in the application, the said shares have been attached by the respondent. The learned counsel for the appellant states that the appellant have no intention to dispose off or part with the same in any manner directly or indirectly and will retain the same position existing when the Impugned Order was passed.
Pertaining to the property no. 1, it has been let out by the appellant to Amity University. The prayer is opposed by the learned counsel for the respondent. The appellant will file the affidavit containing the rent received by the appellant from the said University so that the appropriate order be passed. Copy of the lease agreement executed between the parties will also be filed. Copy of the affidavit be served to the learned Advocate of the respondent alongwith a copy to the Zonal Office who may file reply as well as comments on the said affidavit. Subject to the filing of the affidavit and undertaking not to dispose off the property till the next date of hearing, both the parties shall maintain the status quo in relation to the properties mentioned above.
FPA-PMLA-1582/HYD/2016
Page 2 of 3
List the application on 7th March, 2017. The respondent is also
granted liberty to file reply to the stay application by the next date.
Copy of the order be given ‘ dasti’ to both parties.
(Justice Manmohan Singh) Chairman
(Kaushal Srivastava) Member
(Anand Kishore)
Member
New Delhi,
7th February, 2017
‘R’
FPA-PMLA-1582/HYD/2016
Page 3 of 3
M/s Silicon Infrastructure Pvt. Ltd.
The Joint Director, Directorate of Enforcement, Hyderabad
Manmohan Singh
Kaushal Srivastava
Anand Kishore
As recorded by the court registry
20 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
