Partly allowed

FPA-PMLA-439/BNG/2013 of The Joint Director Directorate of Enforcement, Bangalore v/s Shri Nandipi Shrihari & Others

ATFP3 Feb 2017FPA-PMLA-439/BNG/2013

Case brief

AI extract

What is this about?

The Appellate Tribunal allowed an interim application for substitution of State Bank of India by M/s Asset Reconstruction Company India Ltd as a respondent in a mixed PIL and appeal under the PMLA, based on a valid assignment deed, and granted liberty to the appellant to raise contentions later.

What did the court decide?

Allowed the application to substitute State Bank of India by M/s ARCIL; granted liberty to appellant to raise contentions at main hearing.

FPA-PMLA-439/BNG/2013 of The Joint Director Directorate of… — Money Laundering | ATFP (2017)

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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI

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MP-PMLA-2119/BNG/2015 (Misc.) &

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FPA-PMLA-439/BNG/2013

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(ECIR/98/BZ/2010, PAO NO-06/2012, OC NO- 153/2012)

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The Joint Director

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Appellant/Applicant

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Directorate of Enforcement, Bangalore

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Versus

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Shri Nandipi Shrihari & Others

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… Respondents

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Advocates/Authorized Representatives who appeared

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For the appellant	:	Shri Vikas Garg, Advocate
For the respondent no. 5	:	Shri Kunal Dutta, Advocate
CORAM
JUSTICE MANMOHAN SINGH	:	CHAIRMAN
SHRI G.C. MISHRA	:	MEMBER
SHRI B.K. BANSAL	:	MEMBER

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ORDER 03.02.2017

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MP-PMLA-2119/BNG/2015 (Misc.) & FPA-PMLA-439/BNG/2013

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The present application has been filed on behalf of proposed respondent i.e. M/s Asset Reconstruction Company India Ltd (ARCIL) to be substituted in place of State Bank of India (Respondent No. 5). No reply to this application has been filed. The learned counsel for the respondent no. 5 submits that without prejudice the prayer made in the application be allowed. If necessary his client will raise the objections at the time of main hearing of the appeal. The applicant/appellant is the assignee by virtue of the deed of assignment dated 18^th July, 2014. Copy of the same is filed. Under order 22 rule 10 read with section 151 of Code

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FPA-PMLA-439/BNG/2013 Page 1 of 2

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of Civil Procedure, in case the assignment is valid document the appropriate order can be passed. Accordingly the prayer is allowed. The application is disposed of.

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In view of clause 8 of the assignment deed, the liberty is granted to the appellant to raise his contentions at the time of the hearing of the appeal.

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List for arguments on 27^th April, 2017.

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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,

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3^rd February, 2017

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‘d’

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FPA-PMLA-439/BNG/2013

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Page 2 of 2

FPA-PMLA-439/BNG/2013 of The Joint Director Directorate of Enforcement, Bangalore v/s Shri Nandipi Shrihari & Others

Case brief

What is this about?

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FPA-PMLA-439/BNG/2013 of The Joint Director Directorate of Enforcement, Bangalore v/s Shri Nandipi Shrihari & Others

Case brief

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What did the court decide?

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