2018 (2) TMI 1907

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.... its designated partner while claiming following reliefs: "It is therefore, most humble and respectfully prayed that this writ petition may kindly be allowed; and by an appropriate writ, order or direction (i) By an appropriate writ, order of direction, the provisional attachment order dated 18.11.2017 passed by the respondent no.3 (Ann.10) be declared illegal and be quashed and set aside; and (ii) By an appropriate writ, order of direction the proceedings under section 26 of the Act of 1988 before the Adjudicating Authority be declared illegal and be quashed and set aside; (iii) By an appropriate writ order or direction the respondents may kindly be directed to vacate the attachment, release the bank acc....

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....ns viz. Aditya Parakh and Tara Chand Parakh and copy of the said notice under Section 24(1) of the PBPT Act was also endorsed to the designated partner of the petitioner Shri Aditya Lodha. The said show cause notice was issued on 21.08.2017 and simultaneously, one of the bank accounts of the petitioner was also provisionally attached under Section 24(3) of the PBPT Act on 21.08.2017. After issuance of show cause notice under section 24(1) of the PBPT Act, an enquiry was conducted by the respondent No.3 and after taking into consideration the reply to the show cause notice filed by Aditya Parakh and Tara Chand Parakh, the respondent No.3 passed an order under Section 24(4) of the PBPT Act on 18.11.2017 and referred the matter to the adjud....

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....ice dated 18.12.2017 be quashed and set aside. Heard learned counsel for the petitioner and perused the material available on record. Respondent No.3 in the impugned order has taken into consideration the information received from the Income Tax Department as well as the reply to the show cause notice filed on behalf of Aditya Parakh and Tara Chand Parakh and after recording detailed reasons has passed the order under Section 24(4) of the PBPT Act. The respondent No.3 has formed a prima facie opinion that the property in question is being held by the benamidar and it is a fit case to refer it to the adjudicating authority. After hearing learned counsel for the petitioner and after perusing the material available on record and th....