TaxTMI 
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2021 (9) TMI 1469
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...., they are considered and decided by this common judgment. 2.2. The Indian Bank filed W.P.No.4696 of 2012 with a prayer to issue a Writ of Certiorari calling for the records on the file of the Directorate of Enforcement, in file No.ECIR/06/CZO/PMLA/2009, ECIRs 27 and 35/CZO/PMLA/2010 and quash the order dated 22.02.2012. 2.3. Palpap Ichinichi Software International Ltd. filed W.P.No.12854 of 2012 with a prayer to issue a Writ of Certiorari calling for the records of the respondent in files No.ECIR/6/CZO/PMLA/2009, ECIRs 27 and 35/CZO/PMLA/2010 including the provisional attachment order dated 22.02.2012 issued by the Directorate of Enforcement and the further confiscation proceedings in OC.No.129/2012 pending before the adjudicating authority and quash the same. 2.4. Palpap Ichinichi Software International Limited, along with W.P.No.12854 of 2012, had filed M.P.No.1 of 2012, wherein this court granted limited stay with regard to confiscation proceedings. 2.5.The Indian Bank, along with W.P.No.4696 of 2012, had filed M.P.No.1 of 2012, wherein, this Court granted interim stay. 2.6.The learned single judge, after considering the arguments and based on records, allowed both the wri....
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....467 & 471 of IPC which were scheduled offences in terms of Section 2(y) of the Prevention of Money Laundering Act, 2002 ( in short " The PMLA'') 5. Further, learned counsel contended that pursuant to the above said FIRs and complaints received from the Central Bureau of Investigation, the Directorate of Enforcement registered the Enforcement Case Information Reports vide ECIR Nos.27 & 35/CZO/PMLA/2010 in File No.ECIR/06/CZO/PMLA/2009, to ascertain the proceeds of crime as defined under Section 2(u) of the PMLA, since Palpap Inchinichi Software International Limited, has been charged of having committed the offences under Sections 120B r/w 420, 467 & 471 of IPC which were scheduled offences in terms of section 2(y) of the PMLA. Further contended that in exercise of the powers conferred under sub-section (1) of Section 5 of the PMLA read with Notification No.GSR 441(E ), dated 01.07.2005 and in terms of the authorization dated 07.02.2007 and Technical Circular No.3 of 2011, dated 27.09.2011 issued by the Director of Enforcement, Directorate of Enforcement, New Delhi, the Joint Director, Directorate of Enforcement has considered the facts and circumstances of the case and evidences a....
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....used to any of the respondents as the physical possession of the property was with them only and reiterated other grounds raised in the appeal and thus pleaded to set aside the order of the learned Single Judge and allow these appeals. 8.Learned counsel appearing for the Indian Bank submitted that the Indian Bank had sanctioned three term loans under a sanction ticket dated 02.01.2006 to Palpap Ichinichi Software International Limited. Palpap Ichinichi Software International Limited, had purchased a property at No.3/17, GST Road, St. Thomas Mount, Chennai-16 of the sale deed dated 15.02.2006, registered as document No.280 of 2006 in the office of the Joint Sub Registrar, Saidapet. Palpap Ichinichi Software International Limited, had not repaid the loan amount. Hence, the bank has taken steps to bring the property to sale in terms of the provisions of the SARFAESI Act, 2002. Meanwhile, the Indian Bank came to know about the order of provisional attachment by the appellant. Hence, the Indian Bank filed W.P.No.4696 of 2012 and further, contended that the property is under the control of the bank throughout and as such, the mortgaged property cannot be attached or confiscated. Further....
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....ef Metropolitan Magistrate, Egmore Chennai, and another charge sheet was also filed in No.9 of 2009 dated 11.12.2009 with respect to the complaint filed by the State Bank of India. The Directorate of Enforcement registered the Enforcement Case Information Reports vide ECIR Nos.27 & 35/CZO/PMLA/2010 in File No.ECIR/06/CZO/PMLA /2009, to ascertain the proceeds of crime as defined under Section 2(u) of the PMLA, since Palpap Inchinichi Software International Pvt. Ltd. has been charged of having committed the offences under Sections 120B r/w 420, 467 & 471 of IPC which were scheduled offences in terms of section 2(y) of the PMLA. Thereafter, the Joint Director of Enforcement passed an order bearing No.01 of 2012 on 22.02.2012 under Section 5(1) of the PMLA, 2002, provisionally attaching the property at old Door No.14, New Door No.17, Trunk Road (G.S.T.Road) St. Thomas Mount, Chennai-16. The order was passed on the premise that the said property purchased in the name of the company was acquired out of the proceeds of crime as defined in Section 2(1) (u) of the PMLA, 2005 and that therefore, it is liable for adjudication and confiscation in terms of Section of the Act. 12.After this, Pa....