TaxTMI 
TaxTMI 
2021 (4) TMI 283
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....mir Cricket Association (JKCA) for some of the years probably from 2001 to 2012. During the year 2002-03, the Board of Control for Cricket in India (BCCI) transferred Rs. 112,33,05,618/- to JKCA. It is alleged that out of the said amount a sum of Rs. 43.69 Crores has been siphoned off and mis-appropriated by the then Treasurer who was got illegally appointed and continued on the post by the petitioner. 2. In connection with the above allegations of mis-appropriation of funds of JKCA, an FIR No.27 of 2012 was lodged on 10.03.2012 under Sections 120-B, 406 and 409 of Ranbir Penal Code against the office bearers of the JKCA. 3. In PIL No.08/2014 Majid Yaqoob Dar & anr. v. State of Jammu & Kashmir and others, the High Court directed for the t....
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....ide judgment and order dated 15.10.2019 but against the same LPA No.293/2019 is pending before the Division Bench of this Court but with no interim protection or stay. It is in view of the pendency of the above LPA that the learned Single Judge seized of this petition vide order dated 18.03.2021 expressed opinion that the matter be considered by the Division Bench to which counsel for the parties have agreed. Accordingly, this petition has been laid before the Division Bench. At the very outset the court indicated counsel for the parties that it would be better if the above LPA is heard first and then the present petition as both of them arise from the same incident based upon identical facts but probably as there is no interim order passed....
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....thout jurisdiction and are malafide. 9. Learned Solicitor General in defence submitted that the PMPLA has been enacted by the Parliament in view of the political declaration adopted by the Special Session of the United Nations General Assembly calling upon the member states to adopt national money laundering legislation. India being the member State accordingly enacted the aforesaid Act extending it to the whole of India. Thus, it cannot be said that the aforesaid enactment is beyond the legislative competence of the Parliament. He refers to Section 2(2) of the PMLA to contend that any reference in the Schedule to the said Act to any enactment or provision which is not in force in the "area" where it is applicable would be construed as a r....
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....e Supreme Court in Opto Circuit India Limited v. Axis Bank and others : 2021 SCC online SC 55 which concerns the PMLA on the ground that in the said case the order impugned was of final attachment rather than provisional. 12. In view of the aforesaid facts and circumstances and looking to the fact that presently the petitioner has only been served with a show cause notice in which we are told 20th April, 2021 is the next date fixed and the fact that the order of attachment is provisional in nature which is valid for a period of 180 days only, we do not consider it to be an appropriate case to pass any interim order at this stage particularly when the laundering of 43.69 crores of the amount is not in dispute which in all fairness ought to ....