2020 (3) TMI 1006

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....e reply as mentioned therein and has prayed for dismissal of the Restoration of possession of the property application. 3. During the course of the hearing, the learned counsel appearing for the appellant submitted that this Tribunal has passed stay order on 28.05.2018 and the appellants has not violated any of the condition stipulated therein and that the dismissal of the appeal was for non-prosecution not on merit and that the property has been acquired in the year 2003 i.e. prior to the alleged commission of crime and that the said property has been allotted by the Chandigarh Housing Board under the Lower Income Group category and that the property was purchased after loan taken from the IDBI and that the property has been taken posse....

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....on as well as the reply to the application and also perused the record. The legal question raised by Respondent that this Tribunal is not empowered to restore the possession is not agreed to on the ground that the power of this Tribunal to issue stay order as well as order consequential thereto is inherent. The section 35(2)(h) of the PMLA, 2002 has empowered this Tribunal to set aside any order of dismissal of any representation for default or any order passed ex-parte. The restoration of possession in the present case is consequential to the order of restoration of appeal which was dismissed for default. The restoration of possession is an order during the pendency of the appeal and the status of the order of restoration of possession is ....

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....lso not disputed that the property has been acquired after obtaining loan of about Rs. Five Lakhs only from IDBI in 2016. The main allegation against the appellant with respect to this property is that the appellant has liquidated the loan out of proceeds of crime. But the fact is that the appellant was staying with his family which consists of aged parents and that after being evicted they are staying with the family of sister of the appellant in a difficult condition. There is nothing on record that the appellant or their family members have any other accommodation to stay. 8. Considering the aforesaid factual and legal position it is held that the appellant has a prima facie case for restoration of possession of the property mentioned....