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Jurisdiction Challenge in Money Laundering Case: Deposit Ordered for Release of Attached Property in Delhi. The HC addressed the territorial jurisdiction and the challenge to a Show Cause Notice under the Prevention of Money Laundering Act, 2002. The court ...
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Jurisdiction Challenge in Money Laundering Case: Deposit Ordered for Release of Attached Property in Delhi.
The HC addressed the territorial jurisdiction and the challenge to a Show Cause Notice under the Prevention of Money Laundering Act, 2002. The court accepted the petitioner's jurisdictional argument and directed the petitioner to deposit the attached amount with the Registrar General within six weeks. Upon deposit, the immovable property in Delhi would be released from attachment, with the Fixed Deposit Receipt treated as the attached property under the Act. The court did not rule on the merits of the claims and disposed of the petition without costs.
Issues involved: Territorial jurisdiction of the court, challenge to Show Cause Notice u/s 8(1) of Prevention of Money Laundering Act, 2002, attachment of immovable property.
Territorial Jurisdiction: The respondent raised an objection on the territorial jurisdiction of the court, citing a previous judgment. The petitioner argued that the court has jurisdiction as the Impugned Notice was issued from Delhi and the attached property is within the court's jurisdiction. The court found merit in the petitioner's submissions and left the question of territorial jurisdiction open for adjudication.
Challenge to Show Cause Notice: The petitioner challenged the Show Cause Notice dated 20.02.2020 issued by the Adjudicating Authority u/s 8(1) of the Prevention of Money Laundering Act, 2002. The Complaint detailed the immovable properties to be attached, including a specific flat in Delhi. The petitioner expressed readiness to deposit the attached amount by way of a Fixed Deposit with the court, subject to the final order of the Adjudicating Authority.
Attachment of Immovable Property: The court directed the petitioner to deposit the attached amount within six weeks with the Registrar General of the court. Upon such deposit, the immovable property, a flat in Delhi, shall be released from attachment. The deposited amount shall abide by the Adjudicating Authority's decision and be released accordingly. The Fixed Deposit Receipt will be treated as the property attached u/s 5(1) of the Act. The court clarified that it did not express any opinion on the merits of the claims made by either party.
Disposition: The petition was disposed of with the above terms, and no costs were awarded.
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