Disposed

FPA-PMLA-2747/JP/2018 of M/s. a. Gangawal Real Estate LLP v/s The Joint Director Directorate of Enforcement, Jaipur

ATFP2 Jul 2019FPA-PMLA-2747/JP/2018

Case brief

AI extract

What is this about?

The Appellate Tribunal disposed of the appeal against a provisional attachment order under PMLA. The appellant offered to deposit the attached amount (Rs. 7.37 Cr.), which the respondent accepted, resulting in the modification of the attachment order. The RTM: Section 26; : 'Proceeds of crime'; : 'attachment of property'; : disposal of appeal

What did the court decide?

Impugned order and PAO modified by releasing the attached property upon deposit of Rs. 7.37 Crores within 90 days. Investigation may continue.

FPA-PMLA-2747/JP/2018 of M/s. a. Gangawal Real Estate LLP v/s The… — Narcotics (NDPS) | ATFP (2019)

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APPELLATE TRIBUNAL FOR SAFEMA, FEMA, PMLA, NDPS & PBPT ACT AT NEW DELHI

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MP-PMLA-5353/JP/2018 (U.H) MP-PMLA-5354/JP/2018 (Stay) FPA-PMLA-2747/JP/2018

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M/s. A. Gangawal Real Estate LLP

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… Appellant

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Versus

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The Joint Director Directorate of Enforcement, Jaipur … Respondent

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Advocates/Authorized Representatives who appeared

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For the appellant	: Shri Arun Kumar Agarwal, Advocate Shri Vipin Garg, Advocate
For the respondent	: Shri Neeraj Atri, Advocate
CORAM
JUSTICE MANMOHAN SINGH	: CHAIRMAN
SHRI G.C. MISHRA	: MEMBER

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ORDER 02.07.2019

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FPA-PMLA-2747/JP/2018

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Present appeal has been filed under Section 26 of Prevention of Money Laundering Act, 2002 challenging the order dated 09^th November, 2018. Neither the charge sheet nor the prosecution complaint is pending against the appellant. Ld. Counsel for the appellant has pointed out Page No. 100 of the Impugned order i.e. Para-Q (V) which reads as under:

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“ From the above it is simply clear that out of the investment made by Mudit Dangayach in the above firm, an amount of Rs. 3.37 Cr. was in fact received by them from Shankar Khandelwal which was proceeds of crime to the tune of Rs. 3.37 Cr. generated out of Syndicate Bank Fraud. Therefore, above land of M/s. A. Gangwal Real Estate LLP is liable for attachment to the extent of Rs. 7.37 Cr. in terms of definition of Proceed of Crime‟ under Section 2(1)(u) of PMLA being any property which is derived or obtained directly or indirectly, by any person as a result of criminal activity relating to schedule offence or the value of any such property.

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The offer was made earlier by the counsel for the appellant to

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deposit the said amount as mentioned in the impugned order.

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FPA-PMLA-2747/JP/2018

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Page 1 of 2

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From time to time, the order was passed in presence of I.O., to take instruction from the respondent, who was present for the last three dates. Even the matter is taken up today in the presence of I.O. The letter dated 1^st July, 2019 has been filed by the respondent which reads as under:

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“Departmental Instruction in the matter of an urgent application filed by M/s A Gangwal Real Estate LLP before Hon‟ble PMLA Tribunal New Delhi in the matter of OC No. 984/2018 is submitted as under: „Equal amount of Rs. 7.37 crores offered is acceptable to the directorate with liberty to continue the investigation in the matter and to issue further Provisional Attachment Order, if any, on the basis of outcome of investigation.”

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In view of the counsel for the appellant states that he will deposit the said amount within 90 days from today with the respondent by way of Bank FDR. Once the said amount is deposited, the impugned order as well as PAO against the appellant shall be treated as modified by releasing the attached property. The original letter is taken on record.

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The appeal as well as the miscellaneous applications are disposed of accordingly.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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New Delhi, 2^nd July, 2019 ‘K’

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FPA-PMLA-2747/JP/2018

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FPA-PMLA-2747/JP/2018 of M/s. a. Gangawal Real Estate LLP v/s The Joint Director Directorate of Enforcement, Jaipur

Case brief

What is this about?

What did the court decide?

FPA-PMLA-2747/JP/2018 of M/s. a. Gangawal Real Estate LLP v/s The Joint Director Directorate of Enforcement, Jaipur

Case brief

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What did the court decide?

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