Disposed

FPA-PMLA-1674/CHN/2017 of Shri Farouk Irani v/s The Deputy Director Directorate of Enforcement, Chennai

ATFP15 Feb 2017FPA-PMLA-1674/CHN/2017

Case brief

AI extract

What is this about?

The Tribunal adjourned the appeal. It directed maintenance of status quo regarding residential property pending the appellant's submission of a market rent affidavit, and advised the appellant to file the appeal as limitation period had not expired.

What did the court decide?

Mandatory maintenance of status quo on residential property until appellant deposits affidavit of market rent to verify by the respondent.

FPA-PMLA-1674/CHN/2017 of Shri Farouk Irani v/s The Deputy… — Money Laundering | ATFP (2017)

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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI

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FPA-PMLA-1674/CHN/2017 FPA-PMLA-1675/CHN/2017 & FPA-PMLA-1676/CHN/2017

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Shri Farouk Irani … Appellant/Applicant

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Versus The Deputy Director Directorate of Enforcement, Chennai … Respondent

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Advocates/Authorized Representatives who appeared

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For the appellant : Shri M.R. Venkatesh, Advocate Mrs. Farida Satarwala, Advocate Shri Aljo k. Joseph, Advocate Shri Abhishek Kumar Pandey, Advocate For the respondent : Shri S.K. Sharma, Advocate

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CORAM
JUSTICE MANMOHAN SINGH	: CHAIRMAN
SHRI G.C. MISHRA	: MEMBER
SHRI B.K. BANSAL	: MEMBER

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ORDER

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15.02.2017

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FPA-PMLA-1674/CHN/2017, FPA-PMLA-1675/CHN/2017 & FPAPMLA-1676/CHN/2017

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The above mentioned appeal has been mentioned before us by the learned counsel for the appellant who submits that after file the appeal, the respondent has issued the notice under Section 8 notice dated 10^th February, 2017 under Section 8(4) of the Act for taking the possession of

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FPA-PMLA-1674-76/CHN/2017

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Page 1 of 3

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the two properties. The detail of the attached properties are mentioned as under:

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a house property with land bearing Survey No. 5/25B in all totally measuring 18400 sq ft. (7.66 Grounds) or thereabouts, in Copper Beach Avenue, Sholinganallur II village, Sholinganallur Taluk (formerly Tambaram Taluk), Kanchipuram District, EC Road, Chennai.

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A residential property situated at Door No. 10, River View Road, Kottupuram, Chennai 600 085, currently comprised in Town Survey Nos. 7/64 and 8/9, Block No. 16 in Adyar Village, Mambalam- Guindy Taluk, Chennai District measuring an extent of 9.18 Grounds or thereabouts (22032 sq. ft. approx.) along with the building existing thereon.

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He submits that the impugned order is dated 30^th January, 2017 which was received on 4^th Feburary, 2017. The requisite period of limitation in the filing of the appeal is yet to be expired, but despite of that notice under Section 8(4) has been issued. Shri S.K. Sharma, Advocate appears on behalf of the respondent insists that at least for residential property, the appellant should deposit the market rent with the respondent. He agrees that the matter be adjourned to short-date and till that time the respondent shall not take any steps in view of the notice issued by the respondent under Section 8(4) of the Act. Let the appellant may file the affidavit disclosing the detail of the market rent in respect of the residential property within two weeks with an advance copy to the respondent who will verify the same in the market and inform us so that the appropriate if necessary be passed. List the appeal along with the interim application on 10^th March, 2017 till that time, it is FPA-PMLA-1674-76/CHN/2017 Page 2 of 3

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directed that the Status quo order shall be maintained by the parties in respect of the notice dated 10^th February, 2017 issued by the respondent pertaining to residential property. The undertaking is given by the appeallant not to sell or create any third party interest in the properties.

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List on 10^th March, 2017.

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‘dasti’ to be given the parties.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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(B.K. Bansal) Member

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New Delhi, 15^th February, 2017

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‘A’

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FPA-PMLA-1674-76/CHN/2017

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FPA-PMLA-1674/CHN/2017 of Shri Farouk Irani v/s The Deputy Director Directorate of Enforcement, Chennai

Case brief

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FPA-PMLA-1674/CHN/2017 of Shri Farouk Irani v/s The Deputy Director Directorate of Enforcement, Chennai

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