FPA-PMLA-960/HYD/2015 of M/s Spr Properties Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Hyderabad

ATFP11 Aug 2017FPA-PMLA-960/HYD/2015

Case brief

AI extract

What is this about?

This is an interim order in the Prevention of Money Laundering Act case where the Tribunal listed the appeal for final hearing. The appellant proposed accepting the continuation of attachment for two properties and depositing funds for a third, seeking release upon acquittal. The Tribunal recorded the proposal adjourned the order to allow the respondent to provide instructions.

What the court decided

AI extract

FPA-PMLA-960/HYD/2015 of M/s Spr Properties Pvt. Ltd. v/s The… — Money Laundering | ATFP (2017)

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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI

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MP-PMLA-1798/HYD/2015 (Stay) &

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FPA-PMLA-960/HYD/2015

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M/s SPR Properties Pvt. Ltd. … Appellant

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Versus

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The Joint Director Directorate of Enforcement, Hyderabad … Respondent

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Advocates/Authorized Representatives who appeared

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For the appellant : Shri Yogesh Raavi, Advocate For the respondent : Shri S.A. Saud, Advocate CORAM JUSTICE MANMOHAN SINGH : CHAIRMAN SHRI ANAND KISHORE : MEMBER

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ORDER 11.08.2017

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FPA-PMLA-960/HYD/2015

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By the impugned order dated 20^th May, 2015, the following

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properties attached were confirmed:

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S.No.	Property Description	Name of the Party	Value of the property (in Rs.)
1.	150 Acres of land in Sy. Nos. 99/1 Mamidipalli Village, Saroor Nagar Mandal, Ranga Reddy District vide Deed of Sale dated 02.02.2009	M/s Indu Techzone Private Limited	30,00,00,000/-
2.	100 Acres of land in Sy. Nos. 99/1 Mamidipalli Village, Saroor Nagar Mandal, Ranga Reddy District registered vide Assignment Deed No. 10672/2007 dated 26.09.2007	M/s SPR Properties Private Limited	20,00,00,000/-
3.	Land admeasuring 2835 Sq. yards situated in Sy. No. 81/1 of Jeedimetla, Qutbullapur Mandal, Ranga Reddy District, executed vide sale deed dated 22.04.2006	MM/s Walden Properties Private Limited	3,11,85,000/-

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FPA-PMLA-960/HYD/2015

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Page 1 of 2

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between M/s Indu Projects Limited and M/s Walden Properties Private Limited

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Learned counsel for the appellant has made his submissions on merit yesterday also. Today these three matters are taken up. Learned counsel for the appellant has suggested after taking the instruction from his client, that without prejudice, his client is agreeable to make the statement that with regard to property mentioned at serial No. 1 and 2 the attachment may continue till the final decision of prosecution complaint. During this period the occupier of certain flats would not be disturbed.

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Pertaining to the property shown at serial No. 3 his client is agreeable to deposit the value of the property amount with the respondent without prejudice and if his client is not convicted in the criminal complaint, the said amount be released to the appellant without any delay. Counsel for the appellant submits that the said suggestion is made because of the reason that the said property was attached in lieu of value thereof.

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The said statement is made by the appellant. The Special Court would decide the matter without any influence of the impugned order and the provisional attachment order. Counsel for the respondent seeks time to take instruction. In the meanwhile, let the appellant file the detailed affidavit of the said proposal.

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List on 06^th September, 2017.

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(Justice Manmohan Singh) Chairman

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(Anand Kishore)

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Member

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New Delhi, 11^th August, 2017 ‘A’

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FPA-PMLA-960/HYD/2015

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Page 2 of 2

FPA-PMLA-960/HYD/2015 of M/s Spr Properties Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Hyderabad

Case brief

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FPA-PMLA-960/HYD/2015 of M/s Spr Properties Pvt. Ltd. v/s The Joint Director Directorate of Enforcement, Hyderabad

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