Allowed

FPA-PMLA-1843/JP/2017 of Dewan Housing Finance Corporation Ltd. v/s The Joint Director Directorate of Enforcement, Jaipur

ATFP27 Nov 2018FPA-PMLA-1843/JP/2017

Case brief

AI extract

What is this about?

Appeal filed by Dewan Housing Finance Corporation Ltd. challenging provisional attachment by ED. Court noted respondent's admission that appellant committed no offence and attachment was not against appellant. Appeal disposed allowing deletion of appellant's name from provisional attachment and original complaint orders.

What did the court decide?

Appellant to be deleted from provisional attachment order as well as from the original complaint/impugned order.

FPA-PMLA-1843/JP/2017 of Dewan Housing Finance Corporation Ltd… — Money Laundering | ATFP (2018)

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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI

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MP-PMLA-3617/JP/2017 (Stay) &

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FPA-PMLA-1843/JP/2017

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Dewan Housing Finance Corporation Ltd. … Appellant/Applicant

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Versus

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The Joint Director

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Directorate of Enforcement, Jaipur … Respondent

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Advocates/Authorized Representatives who appeared

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For the appellant	: Shri Dayan Krishnan, Sr. Advocate Ms. Manvi Priya, Advocate Ms. Shweta Kapoor, Advocate Mr. Bhupinder Singh, Advocate
For the respondent	: Shri Neeraj Atri, Advocate
CORAM
JUSTICE MANMOHAN SINGH	: CHAIRMAN
SHRI G.C. MISHRA	: MEMBER

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ORDER 27.11.2018

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FPA-PMLA-1843/JP/2017

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Counsel for the appellant has referred to para L-N of the reply filed by respondent in reply to the grounds in appeal memo; which is reproduced below:

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“The contents o the Paras L to N are wrong, false and hence denied. The complainant humbly submits that the appellant may not be aware that repayment of loan was being made by M/s World Trade Park Pvt. Ltd. out of the money which was proceeds of Crime received out of Syndicate Bank Fraud and of the same NOCs were issued by the Appellant. However, evidences available on record confirms that fund of Syndicate Bank Fraud have reached to M/s. Wold Trade Park Pvt. Ltd. and from that fund only repayment of loan has been done and sale deeds were duly executed in the name of different individuals/entities of Shri Bharat Bomb. Therefore, the properties are purchased out of Proceeds of Crime and have correctly been attached. It has never been alleged that the appellant has committed any offence or has in any manner attempted to receive any property which in its knowledge was tainted and the instant attachment is not against the appellant. Hence, the argument put forth by the appellant is not tenable.”

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FPA-PMLA-1843/JP/2017

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Page 1 of 2

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Counsel for the appellant states that as far as the attachment against the borrowers are concerned the same may continue. However, the name of appellant may be deleted from the provisional attachment order.

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We have gone through the reply filed by the counsel for the respondent particularly reply to the ground L –N where it has been admitted by the respondent that the appellant has never committed any offence or has in any manner admitted to receive any property which is not only was tainted and the provisional attachment is not against the appellant. Accordingly, in view of the admission, the appeal is disposed of. The order is passed that the appellant may be deleted from the order passed by the ED in provisional attachment as well as in the original complaint/impugned order.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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New Delhi, 27^th November, 2018

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‘K’

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FPA-PMLA-1843/JP/2017

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Page 2 of 2

FPA-PMLA-1843/JP/2017 of Dewan Housing Finance Corporation Ltd. v/s The Joint Director Directorate of Enforcement, Jaipur

Case brief

What is this about?

What did the court decide?

FPA-PMLA-1843/JP/2017 of Dewan Housing Finance Corporation Ltd. v/s The Joint Director Directorate of Enforcement, Jaipur

Case brief

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What did the court decide?

What the court decided

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