2017 (11) TMI 1499

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....ondent : Mr. Vikas Garg, Advocate ORDER FPA-PMLA-2058/LKW/2017 1. The present appeal has been filed under section 26 of the PMLA Act against the order dated 13.09.2017 passed by the Adjudicating Authority. 2. The case of the Appellant is closely similar to the case decided by this Tribunal on dated 14.07.2017 in State Bank of India and Ors. Vs. The Joint Director, Directorate of Enforcement, K....

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....46. In the present case, it is undisputed facts that the attached property were purchased much prior to the period when the facility of loan sanctioned to the borrowers. The banks while rendering the facilities were boanfide parties. It is not the case of the respondent that the attached properties were purchased after the loan was obtained. The mortgaged of the properties were done as bonafide pu....

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....bout their innocence and they rightly did so but their contention was rejected as appeared from the impugned order." 3. The said Judgment passed by us has not been considered and followed by the Adjudicating Authority. It is a very serious matter. The Authority is supposed to give due respect to the judgment of the higher Authority and Courts. The said judgment was passed by referring the decisi....