2021 (5) TMI 264

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....revention of Money Laundering Authority, 2002, not being currently functional due to non-filling of vacancies in the Tribunal. 3. The Enforcement Directorate had issued a Provisional Attachment Order PAO 1/2019 dated 28th March 2019 vide which the hotel Holiday Inn located at Aerocity was provisionally attached to the tune of Rs. 120,20,46,003/-. The said attachment was confirmed by the Adjudicating Authority vide its order dated 19th September 2019. The Petitioner has already preferred an Appeal under Section 26 of the PMLA before the Appellate Tribunal for PMLA. Vide order dated 4th October 2019, status quo was granted by the Tribunal in the following terms: "The appellant undertakes that he will serve the notice to the R-5 at....

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....ank, to the tune of the amount which the Petitioner is eligible to avail of under the Emergency Credit Line Guarantee Scheme launched by the Government of India, in respect of the Hotel Property (Holiday INN), which is situated at Asset Area 12, Aero-city, Delhi International Airport, New Delhi- 110037. 6. On 30th April, 2021, when the matter was listed before this Court, the counsel for the ED had sought time to seek instructions in the matter. On the said date, ld. Counsel appearing for the Bank submitted that since there is already an attachment order, permission would be required from the Appellate Authority under the PMLA, in spite of the loan having been sanctioned. 7. Today, Mr. Mahajan, ld. counsel, appears for the ED and subm....

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....t the extent of attachment by the ED, which has been approved by the Adjudicating Authority, is to the tune of Rs. 120,20,46,000/- crores. The relevant extract of the order of the Adjudicating Authority reads as under:- "Accordingly, the Hotel Holiday Inn at asset area 12 Aerocity Delhi have been provisionally attached for Rs. 120,20,46,000/- u/s 5(1) of PMLA. Hence, the PAO deserves to be confirmed for attachment is hereby confirmed." 12. Thus, the attachment of the subject property, for the said sum, has been confirmed by the Adjudicating Authority under Section 5(1). 13. The Petitioner intends to obtain a further loan facility under the scheme which is operated by the trust, and has approached the Yes Bank for the same, vi....