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The AT dismissed the substitution applications, holding it lacks statutory authority under the PMLA to order substitution of attached property. The Tribunal found the HC order relied on was consensual and non-precedential, the SC decision factually distinguishable, and a recent HC ratio permitting substitution in cases of equivalent value inapplicable to expand AT's jurisdiction. Emphasizing that writ relief is an extraordinary remedy vested in HC/SC and that the AT is a statutory forum confined to PMLA powers, the Tribunal concluded it cannot exercise equitable substitution powers absent express legislative conferral. Applications by the applicants to permit substitution of jointly owned attached properties were therefore refused.
The AT dismissed the substitution applications, holding it lacks statutory authority under the PMLA to order substitution of attached property. The Tribunal found the HC order relied on was consensual and non-precedential, the SC decision factually distinguishable, and a recent HC ratio permitting substitution in cases of equivalent value inapplicable to expand AT's jurisdiction. Emphasizing that writ relief is an extraordinary remedy vested in HC/SC and that the AT is a statutory forum confined to PMLA powers, the Tribunal concluded it cannot exercise equitable substitution powers absent express legislative conferral. Applications by the applicants to permit substitution of jointly owned attached properties were therefore refused.
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