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Tribunal Grants Urgent Appeal Hearing, Orders Status Quo on Property, and Sets Conditions for Next Proceedings. The Tribunal granted the appellant's urgent hearing application, allowing early proceedings for a fresh appeal under section 26 of the PMLA. The Tribunal ...
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Tribunal Grants Urgent Appeal Hearing, Orders Status Quo on Property, and Sets Conditions for Next Proceedings.
The Tribunal granted the appellant's urgent hearing application, allowing early proceedings for a fresh appeal under section 26 of the PMLA. The Tribunal ordered the production of official records and imposed a status quo on the property in question, subject to conditions, until the next hearing. Both parties were given six weeks to respond to various applications, and the appellant was instructed to share the inspection report with the respondent. The matter was scheduled for a subsequent hearing, with the order provided 'dasti' for compliance.
Issues: Urgent hearing application, Fresh appeal under PMLA, Application for official record production, Stay application under PMLA
Urgent Hearing Application: The appellant filed an urgent hearing application, which was allowed, seeking early hearing based on grounds mentioned therein. The matter pertains to a fresh appeal filed under section 26 of the Prevention of Money Laundering Act, 2002 against an order passed by the Adjudicating Authority. The respondent's counsel accepted the notice and requested six weeks to file a reply, which was granted. The appellant sought three weeks to file a rejoinder, which was also allowed.
Application for Official Record Production: An application was filed along with the appeal to direct the Registry of the Adjudicating Authority to produce the official record of the case. Both parties accepted the notice and were granted six weeks to file a reply to the application.
Stay Application under PMLA: The appellant filed a stay application under section 35 of the PMLA seeking an ex parte ad interim stay of the impugned order and an order of status quo. The appellant claimed that the property in question was under self-occupation, mortgaged to a financial institution, and had no ability to deal with it. The respondent objected to the grant of stay, arguing that the property was also mortgaged with another institution and lying vacant. After hearing both sides, the Tribunal ordered a status quo, subject to specific conditions, until the next date of hearing. The respondent was given six weeks to file a reply to the stay application.
Conclusion: The Tribunal directed the appellant to provide a copy of the inspection report to the respondent and scheduled the appeal and applications for a hearing on a specified date. The order was to be given 'dasti' to both parties for compliance.
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