TaxTMI 
TaxTMI 
2023 (5) TMI 1031
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....o. 1503 of 2021 and the impugned Provisional Attachment Order No. 09 of 2021 (hereinafter 'PAO') dated 28th June, 2021 whereby certain assets of the Petitioners have been attached under Section 8 of the Prevention of Money Laundering Act, 2002 (hereinafter 'PMLA'). The details of the properties are as under- Sr.No. Property Holder Description of Property Value in Rs. (in Crores) 1. M/s Frost International Limited 402, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur 0.90 2. M/s Frost International Limited Half office accommodation no. 403, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur 0.41 3. M/s Frost International Limited Half office accommodation no. 403, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur 0.41 4. M/s Frost Inte....
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.... 4, 4A, 4B, 4C, 4D on the third floor at SB Tower premises no.37, Shakespeare Sarani, Ward 63 of KMC Kolkata 10.09 18. M/S Globiz Exim Pvt. Ltd. Shop No.1 to 4, Oberoi Chambers-1, CTS No.645, Village Oshiwara, Andheri West, Mumbai. 18.36 19. M/s NSD Nirman Pvt. Ltd. Shop 101 to 108, 1st Floor, Oberoi Chambers 1, Plot bearing CTS No.645 and 646, Off Link Road, Village Oshiwara, Andheri West, Mumbai-40058 23.69 20. M/s Frost International Limited Apartment No.T-22, 401, Tower 22, Apt. No.401, third Floor, admeasuring 2830.04 sq. ft., Commonwealth Games Village, National Highway-24, Adjacent to Akshardham Temple, Noida Crossing, Delhi-110092. 7.02 21. M/s Frost International Limited Office Unit No. 709, 7th Floor, C Wing bldg......
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....e matter was remanded to this Court. 6. On 19th April, 2022, after considering the submissions made, the following interim order was passed the operative portion of which is extracted hereunder. "2. The challenge in the present petition is to an order passed by the Adjudicating Authority confirming a provisional attachment order in terms of Section 8 of the Prevention of Money Laundering Act, 2002 (PMLA). 3. The Court is apprised that the appellate authority is yet to be constituted and consequently, the petitioner is constrained to invoke the jurisdiction of this Court under Article 226 of the Constitution of India. Attention of the Court has further been invited to orders of final disposal passed by the Court on numerous other writ p....
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....der dated 9th February, 2023, the NCLT has declared a moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (hereinafter 'IBC'). 9. In addition, the RP- Mr. Amit Chandrakant Shah has been appointed to handle the day to day affairs of the company and to carry out the mandate as directed by the NCLT. 10. The submissions on behalf of the company by ld. Counsel representing the RP is that since a large number of assets of the company have been attached, the resolution process itself has been adversely affected. Accordingly, he prays that the interim order granted ought to be vacated. 11. Mr. Zoheb Hussain, ld. Counsel appearing for the Directorate of Enforcement (hereinafter 'ED') submits that the attachment is prior to the....
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....Vs. Directorate Enforcement and Another, 2020 SCC Online Del. 1732. However, the same being a legal issue, there are various other submissions also which may have to be considered in the present matter, bearing in mind that the Petitioner Company has gone into insolvency and moratorium has been declared. 14. Admittedly, the Tribunal under the PMLA is functioning and the Petitioner is free to approach the Tribunal under Section 26 of the PMLA. 15. The Petitioner has already filed an appeal before the Appellate Tribunal, which is stated to have been dismissed for non-prosecution. 16. However, since the Petitioner was already before this Court and was granted interim protection, it is deemed appropriate to permit the Petitioner Company throu....