2024 (11) TMI 793

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ESH KUMAR, MEMBER For the Appellants: Mr. Ashwani Taneja, Mr. Prabhat Kumar Rai, Mr. Ayush Saini, Advs. (In Appeal No. 3377/2019) Mr. R.K. Rawal, (Authorized Representative) (In Appeal Nos. 3301,3320, 3378 and 3379/2019) For the Respondent: Mr. Munindra Dvivedi, Adv FINAL ORDER FPA-PMLA-3301,3320&3377-3379/DLI/2019 By this batch of appeals, a challenge has been made to the order dated 04.11.2019 passed by the Adjudicating Authority confirming the attachment of the following immovable properties: S. No. Description of property Value of Property (Rs.) Belongs to Value being attached (Rs.) 1. Shop bearing No. 1165, 3rd Floor, Kucha Mahajani, Chandni Chowk, Delhi-06. 3,79,325/- Puneet Jain 3,79,32....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....2,18,312.92/- Rajeev Singh Kushwaha 2,18,312.92/- 9. Amount Rs. 1,36,043.25/- in Bank A/c no.916020046224082 in the name of M/s Ganesh Traders maintained by Hemraj Singh in Axis Bank, Chandni Chowk, Delhi-110006. 1,36,043.25/- Hemraj Singh 1,36,043.25/- 10. Amount Rs. 987.80/- in Bank A/c No.0113002107361863 in the name of M/s Ganesh Traders maintained by Hemraj Singh in Punjab National Bank, Chandni Chowk, Delhi-110006. 987.80/- Hemraj Singh 987.80/- 11. Amount Rs. 46,139/- in Bank A/c no. 3577794346 in the name of M/s Ganesh Traders maintained by Hemraj Singh in Central Bank of India, Chowraha Gali, Moradabad. 46,139/- Hemraj Singh 46,139/- 12. Amount Rs. 4,963/- in Bank A/c no. 204....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ony, New Delhi-110024. 22,08,802.92/- Parvesh Kumar Gandhi 20,00,000/- 2. The learned counsel for the appellant raised many issues for challenge to the order dated 04.11.2019 passed by the Adjudicating Authority. However, it was urged that the impugned order may not be sustainable as mandate of Section 8(1) of the Prevention of Money Laundering Act, 2002 (in short 'the Act of 2002') has not been complied. The Adjudicating Authority is under an obligation to have "reasons to believe" that a person has committed an offence under Section 3 or is in possession of 'proceeds of crime'. A notice may be served on such person to call upon him to indicate the sources of his income within a period of thirty days. 3. In the instant case,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y the Adjudicating Authority. 6. The appellant, however, reserves other arguments to be raised, if first ground is not accepted. Accordingly, we called upon the respondents to argue the issue raised by the appellant. 7. We have considered the rival submissions of the parties and it has been brought to our notice by the respondent that the "reasons to believe" have not been conveyed to the appellant by the Adjudicating Authority though relied upon documents have been served on him. 8. In the light of the aforesaid, the impugned order passed by the Adjudicating Authority cannot sustain in view of the judgment of this Tribunal in the case of Neeraj Singal Vs. The Deputy Director, Directorate of Enforcement, New Delhi (FPA-PMLA-6807/DL....