FPA-PMLA-987/HYD/2015 of M/s Nava Bharat Project Ltd. v/s The Deputy Director Directorate of Enforcement, Hyderabad

ATFP20 Dec 2017FPA-PMLA-987/HYD/2015

Case brief

AI extract

What is this about?

The Prevention of Money Laundering Act (PMLA) appellate tribunal granted the applicant two weeks to file a reply to an application under section 35 regarding the acceptance of a bank guarantee in lieu of attached shares.

What did the court decide?

One final opportunity granted to file reply within two weeks or to take instructions.

FPA-PMLA-987/HYD/2015 of M/s Nava Bharat Project Ltd. v/s The… — Banking and Recovery | ATFP (2017)

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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI

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MP-PMLA-3777/HYD/2017 (u/s 35) MP-PMLA-1839/HYD/2015 (U/s 35) &

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FPA-PMLA-987/HYD/2015

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M/s Nava Bharat Project Ltd.	…	Appellant/Applicant
Versus
The Deputy Director
Directorate of Enforcement, Hyderabad	…	Respondent no. 1

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Advocates/Authorized Representatives who appeared

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For the appellant	: Shri Siddharth Agarwal, Advocate Shri Arshdeep Singh, Advocate Shri Akshat Gupta, Advocate
For the respondent	: Shri Neeraj Atri, Advocate
CORAM JUSTICE MANMOHAN SINGH	: CHAIRMAN
SHRI G.C. MISHRA	: MEMBER

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ORDER 20.12.2017

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MP-PMLA-3777/HYD/2017 (u/s 35)

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The present application has been filed by the appellant under section 35 of PMLA for seeking direction with the respondent, ED be asked to accept the Bank Guarantee to the tune of Rs. 138.59 crores to be furnished by the appellant in lieu of release of the attached shares totaling 73,99,99,994 of NBEIL held by the appellant. No reply to the said application has been filed.

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Mr. Neeraj Atri, Advocate who has replaced Mr. S.A. Saud recently seeks some time to file the reply. He further submitted that he will take the instructions from the department with regard to the prayer made in the application. One final opportunity is granted to file the reply within two weeks or to take the instructions; so that the application may be disposed of on the next date of hearing.

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FPA-PMLA-987/HYD/2015

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Page 1 of 2

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List on 18^th January, 2018.

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Copy of the order be given ‘dasti’ to both the parties.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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New Delhi, 20^th December, 2017

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‘d’

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FPA-PMLA-987/HYD/2015

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FPA-PMLA-987/HYD/2015 of M/s Nava Bharat Project Ltd. v/s The Deputy Director Directorate of Enforcement, Hyderabad

Case brief

What is this about?

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FPA-PMLA-987/HYD/2015 of M/s Nava Bharat Project Ltd. v/s The Deputy Director Directorate of Enforcement, Hyderabad

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