2022 (2) TMI 1286

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.... D E R Proceedings have been conducted through video conferencing. C.M.No.5853/2022 (exemptions) Allowed, subject to all just exceptions. Application is disposed of. LPA 78/2022 & C.M.No.5852/2022(stay) Issue notice. Mr. Shadman Ahmed, learned counsel accepts notice on behalf of Respondent No.1. Mr. Anurag Ahluwalia, learned Central Government Standing Counsel accepts notice on behalf of Respondents No.2 and 3. Learned counsels appearing for the Respondents seek time to file their respective replies to the appeal, as according to them, the averments made and the allegations levelled in the appeal are factually and legally incorrect and need to be controverted. Let the Respondents file their respective replies t....

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....artment, bringing on record the pending investigations and the assessment proceedings as well as the fact that there are tax evasions by Respondent No.1 herein and the petition is pending. It is further submitted that bogus purchases to the tune of Rs.1153 Crores have been identified in the hands of three entities belonging to Respondent No.1 herein. It is also the submission of Mr. Zoheb that during the course of search by the Appellant, a draft agreement for an offshore company in the name of M/s. Centurion International Limited registered in Dubai was found, as per which Respondent No.1 bought 10% shares in the company for Rs.30 Crores from one Mr. Amit Agarwal, in the name of his daughter with respect to a property situated in Dubai and....

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.... by the Government of India, Ministry of Home Affairs-Foreigners Division (Immigration Section), amending the OM dated 27.10.2010 and expanding its scope to issue LOCs against persons impacting the economic interests of India and the OM dated 22.02.2021 was issued laying down fresh Guidelines for issuance of LOCs and it is clearly stipulated therein that no LOC shall be deleted automatically and shall remain in force till a deletion request is received from the Originator. Learned Senior Counsels appearing for Respondent No.1, on the other hand, refute the contentions of the Appellant and submit that the Learned Single Judge has rightly quashed the LOC. It is also submitted that Respondent No.1 is a businessman and is required to travel ....