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FPA-PMLA-2898/BNG/2019 of M/s. Karnataka Emta Coal Mines Ltd. v/s The Deputy Director Directorate of Enforcement, Bangalore

ATFP11 Mar 2019FPA-PMLA-2898/BNG/2019

Case brief

AI extract

What is this about?

Appellants challenging money laundering orders sought an interim stay or relief. The Tribunal granted an order directing the respondent to keep already appropriated funds in a fixed deposit account in a nationalized bank pending the appeal outcome.

What did the court decide?

Directions to keep the appropriated amount in Fixed Deposit Receipt (FDR) in a nationalized bank during the pendency of the appeal.

FPA-PMLA-2898/BNG/2019 of M/s. Karnataka Emta Coal Mines Ltd. v/s… — Cheque Dishonour | ATFP (2019)

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

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(1) MP-PMLA-5597/BNG/2019 (Misc.) FPA-PMLA-2873/BNG/2019

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Karnataka Power Corporation Ltd. … Applicant/Appellant

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Versus

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The Deputy Director Directorate of Enforcement, Bangalore … Respondent

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(2) MP-PMLA-5629/BNG/2019 (Misc.) FPA-PMLA-2898/BNG/2019

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M/s. Karnataka Emta Coal Mines Ltd. … Applicant/Appellant

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Versus The Deputy Director Directorate of Enforcement, Bangalore … Respondent

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Advocates/Authorized Representatives who appeared

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For the Appellant	:	Shri C.V. Nagesh, Sr. Advocate Mr. Ajay & Yashodhar Hegde Shri Somesh Tiwari, Ms. Nattasha Garg & Shri Abhimanyu Bhandari, Advocates
For the Respondent	:	Shri S.K. Sharma, Advocate
CORAM
JUSTICE MANMOHAN SINGH	:	CHAIRMAN

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ORDER 11.03.2019

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FPA-PMLA-2873 & 2898/BNG/2019

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Fresh appeal has been filed under section 26 of the Prevention of Money Laundering Act, 2002 against the order dated 14^th December, 2018. Issue notice. The learned counsel for the respondent seeks time to file the reply. Let the same be done within six weeks with an advance copy to the counsel for the appellant who may file the rejoinder four weeks thereafter.

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List these appeals for hearing on 15^th July, 2019.

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FPA-PMLA-2873 & 2898/BNG/2019

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Page 1 of 2

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The appellant is pressing for interim order. The learned counsel for the appellant has referred the FIR as well as the charge-sheet where it was observed that the prima facie it is the loss of the appellant. The part of FIR reads as under:

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“That the aforesaid facts and circumstances disclose that the accused persons in criminal conspiracy facilitated the illegal sale of coal rejects generated during washing in violation of the terms of allocation committed criminal breach of trust & cheating and thereby caused undue pecuniary advantage to M/s. GCWL and corresponding loss to M/s. KPCL.”

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The counsel has also referred certain other documents. I am heard for the respondent also. Under these circumstances, the respondent has already appropriated the impugned amount. I agree with the suggestions for the counsel for the appellant and direct that without prejudice the amount already appropriated by the respondent shall be kept in FDR in nationalized bank during the pendency of the appeal.

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List on 15^th July, 2019.

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(Justice Manmohan Singh) Chairman

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New Delhi, 11^th March, 2019

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„D‟

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FPA-PMLA-2873 & 2898/BNG/2019

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Page 2 of 2

FPA-PMLA-2898/BNG/2019 of M/s. Karnataka Emta Coal Mines Ltd. v/s The Deputy Director Directorate of Enforcement, Bangalore

Case brief

What is this about?

What did the court decide?

FPA-PMLA-2898/BNG/2019 of M/s. Karnataka Emta Coal Mines Ltd. v/s The Deputy Director Directorate of Enforcement, Bangalore

Case brief

What is this about?

What did the court decide?

What the court decided

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Coram

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