Appeal admitted; notice issued to respondent for reply; interim guardianship granted over properties subject to undertaking, with listing fixed for further proceedings.
Notice issued for reply; interim guardianship granted subject to undertaking.
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-3772/AHD/2017 (Stay) &
FPA-PMLA-1910/AHD/2017
M/s. Jayant Oil Products Pvt. Ltd. … Appellant/Applicant
Versus
The Deputy Director Directorate of Enforcement, Ahmadabad
… Respondent
Advocates/Authorized Representatives who appeared
For the appellant : Shri Kewal Singh Ahuja, Advocate Ms. Pritika Kohli, Advocate For the respondent : Shri Vikas Garg, Advocate
CORAM JUSTICE MANMOHAN SINGH : CHAIRMAN
ORDER 28.08.2017
FPA-PMLA-1910/AHD /2017
The fresh appeal has been filed under section 26 of Prevention of Money Laundering Act, 2002 against the order dated 12th July, 2017. Issue notice to the respondent. Mr. Vikas Garg, learned counsel for the respondent accepts the notice. He seeks six weeks time to file the reply. Let the reply be filed within six weeks with an advance copy to the counsel for the appellant who may file the rejoinder within four weeks thereafter.
List this appeal on 2nd February, 2018.
MP-PMLA-3772/AHD/2017 (Stay)
The learned counsel for the appellant is pressing for interim order in view of the notice under section 8(4) of the Act. The provisional attachment order was passed on 9th February, 2017 which was confirmed by the impugned order dated 12th July, 2017 of the two properties of the appellant namely:-
FPA-PMLA-1910/AHD/2017
Page 1 of 3
(b) Flat No. 201, 20th Floor, Kshitij building, he Nepean Sea Road Prag Prem Premises Coorperative Society Ltd., 47, L Jagmohandas Marg, Near Consulate General of Russia, Nepean Sea Road, Mumbai-400036 having are 1413 sq. ft.”
The appellant state that none of the directors is charged with the proceeds of crime even neither prosecution complaint is pending against the appellant nor the PMLA proceedings. In addition, the statement is also made for the first property is purchased on 4th March, 1972 and the second one is 22nd December, 1975. The said two properties were attached in lieu of value thereof. He submits that two of the directors (Shri Bharat M. Kapadia and Shri Rajesh M. Kapadia) who were earlier director of the M/s. Biotor Industries Ltd. had already resigned on 25th September, 2008 in 1978 before filing the FIR. He undertakes on behalf of the appellant, despite of that shall not be disposed of directly or indirectly till the appeal is finally decided. Thus, prima facie case is made out for grant of interim protection. The other objections raised by Shri Vikas Garg, the learned counsel for the respondent will be considered on the next date of hearing. Reply be filed within six weeks with an advance copy to the counsel for the appellant who may file the rejoinder within four weeks thereafter.
Subject to the undertaking not to disposed of or create any third party right or interest and no coercive action shall be taken by the respondent in view of notice issued u/s 8(4) of PMLA, 2002 by the respondent.
FPA-PMLA-1910/AHD/2017
Page 2 of 3
List on 2nd February, 2018.
‘Dasti’ to the parties.
(Justice Manmohan Singh) Chairman
New Delhi, 28th August, 2017. „d‟
FPA-PMLA-1910/AHD/2017
Page 3 of 3
2 issues framed by the court
Whether notice should be issued under section 26 of PMLA, 2002 against the impugned order.
Whether interim protection/guardianship should be granted for attached properties despite objections.
2 provisions across 1 enactments
M/s. Jayant Oil Products Pvt. Ltd.
The Deputy Director Directorate of Enforcement, Ahmadabad
Manmohan Singh
As recorded by the court registry
8 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
