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AT held that the Provisional Attachment Order for Rs. 2.84 crores against the appellant is set aside, as the funds were legitimately received through banking channels from share transfer to a third party. Regarding the Rs. 11 crores proceeds of crime, the parties agreed to maintain status quo, with property possession unchanged and no alienation permitted until trial conclusion. The attachment order was deemed improper as the appellant demonstrated a valid source of funds through a transparent financial transaction. Appeal partially allowed with specific directives preserving the property's current status pending final judicial determination.
AT held that the Provisional Attachment Order for Rs. 2.84 crores against the appellant is set aside, as the funds were legitimately received through banking channels from share transfer to a third party. Regarding the Rs. 11 crores proceeds of crime, the parties agreed to maintain status quo, with property possession unchanged and no alienation permitted until trial conclusion. The attachment order was deemed improper as the appellant demonstrated a valid source of funds through a transparent financial transaction. Appeal partially allowed with specific directives preserving the property's current status pending final judicial determination.
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