2018 (3) TMI 419 - AT - Money Laundering

Appeals Granted, Properties Released in PMLA Case

The Tribunal allowed all appeals filed by the appellants against the order of the Adjudicating Authority under the Prevention of Money Laundering Act, ... Acquittal from the charges punishable under Section 3 read with Section 4 of PMLA 2002 - Held that:- The accused were acquitted from the charges punishable under Section 3 read with Section 4 of PMLA 2002 wherein it was further ordered that the properties of the accused which were attached by the said authority are acquitted u/s 235(1) Cr.P.C. from the charges punishable u/s 3 r/w 4 of the Prevention of Money Laundering Act, 2002 and the properties which are attached by the authority of Prevention of Money Laundering Act, 2002 under Ex. P.40, Ex. P.41 is ordered to be released and directed to hand over the same with respective accused. As the respondent has not disputed the said facts, under these circumstances, it appears from the acquittal order that all the appellants are acquitted pertaining to the FIR as well as charges punishable Section 3 or 4 of PMLA. All the appeals are allowed. The properties which are attached by the authority are released forthwith. Issues:1. Appeal against the order passed by the Adjudicating Authority under the Prevention of Money Laundering Act, 2002 (PMLA).2. Acquittal of the appellants in various criminal cases.3. Attachment of properties under PMLA.4. Request for setting aside the attachment of properties.5. Release of attached properties.Analysis:1. The three appellants filed appeals against the order dated 17.10.2016 passed by the Adjudicating Authority under the PMLA 2002. The appeals were in relation to a case involving the commission of offenses under the NDPS Act, 1985.2. The investigation under PMLA revealed immovable properties held by the appellants, including land parcels and houses. Additionally, movable properties like vehicles were also identified, with details of ownership and sources of income provided.3. The appellants filed an application during the appeal process to set aside the attachment of their properties, highlighting the acquittal of one of the appellants in a previous criminal case.4. The appellants were acquitted in multiple criminal cases, as evidenced by orders from the trial courts. The appellants argued that since they were acquitted in all cases, including those related to the FIRs mentioned, the attachment of their properties under PMLA should be lifted.5. The Tribunal noted that the appellants had been acquitted in all relevant cases, including those involving charges under the PMLA. Consequently, all appeals were allowed, and the attached properties were ordered to be released immediately.6. The direction for handing over the released properties was already addressed in a previous judgment by the District Judge for CBI cases. The Tribunal disposed of all appeals and pending applications without imposing any costs on the parties involved.