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Issues: Whether, in light of subsequent developments, the appeal had become academic and the subject properties could be treated as restored to the resolution applicant under Section 8(8) of the Prevention of Money Laundering Act, 2002 read with Rule 3A of the Prevention of Money Laundering (Restoration of Property) Rules, 2016.
Analysis: The appeal was rendered academic because of subsequent developments, and the Court declined to decide the larger question of law. Without prejudice to the rights and contentions of either side, the Court directed that the subject properties be treated as restored under Section 8(8) of the Prevention of Money Laundering Act, 2002 and that possession be handed over to the resolution applicant.
Conclusion: The appeal was disposed of with the direction that the subject properties stand restored to the resolution applicant, while the legal question remained open.
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