Appeal against an order by the Adjudicating Officer (AO). Court noted hearing of the appellant bank and referred to the facts concerning SARFAESI and IBC proceedings. No substantive disposal reported in the text provided; case listed for future hearing.
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APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI
FPA-PMLA-2173/MUM/2018 Bank of India … Appellant Versus The Deputy Director, … Respondent Directorate of Enforcement, Mumbai
| Advocates/Authorized Repre | sentatives who appeared |
|---|---|
| For the appellant | : Shri V. Seshagiri, Advocate |
| For the respondent |
: Mr. Rajeev Awasthi, Advocate |
| CORAM | |
| JUSTICE MANMOHAN SINGH SHRI G.C. MISHRA |
: CHAIRMAN : MEMBER |
| ORDER 22.02.2018 |
FPA-PMLA-2173/MUM/2018
The same reads as under:
8. It is further submitted that with regards to the Subject Property, Appellant Bank has proceeded to exercise the rights available to it in law under the provisions of the Secruitization and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (hereinafter referred to as the “ SARFAESI Act ”). Pertinently, the Appellant Bank issued notices dated 12th August, 2015 u/s 13(2) of the SARFAESI Act to TIPL and thereafter proceeded to enforce its security interest by taking possession of the Subject Property on 10th December, 2015. Copy of the Notices dated 12th August, 2015 and 10th December, 2015 are annexed herewith and marked as ANNEXURE No. A/4 (COLLY).
10. It is further submitted that subsequently the Hon’ble National Company Law Tribunal, Delhi initiated corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “IBC 2016” ) against TIPL vide its Order dated 03rd July, 2017 in C.P. No. IB-104(PB)/2017 (hereinafter referred to as the “Insolvency Petition” ). Consequently, the Hon’ble National Company Law Tribunal, Delhi was pleased to appoint an Interim Resolution FPA-PMLA-2173/MUM/2018 Page 1 of 2
Professional and was further pleased to declare a moratorium under Section 14 of the IBC 2016 prohibiting the institution and continuation of pending suits against TIPL and further prohibiting transfer, alienation and disposal of TIPL’s assets and properties. For the sake of convenience and assistance of this Hon’ble Tribunal, the operative and relevant part of the said Order dated 03rd July, 2017 is being reproduced below-
List on 24th May, 2018.
Copy of the order be given dasti to both the parties.
(Justice Manmohan Singh) Chairman
(G.C. Mishra) Member
New Delhi, 22nd February, 2018.
‘K’
FPA-PMLA-2173/MUM/2018 Page 2 of 2
1 issue framed by the court
Whether the bank has a prima facie good case for staying the operation of the impugned order regarding the subject hotel.
Bank of India
The Deputy Director, Directorate of Enforcement, Mumbai
Manmohan Singh
G. C. Mishra
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
