TaxTMI 
TaxTMI 
2025 (6) TMI 1972
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....t appellants were permitted to be retained:- TABLE NO. 2 3. Dr. Gulshan Sharma H. No. 79, Village Kansal, Behind Chandigarh Club Mohali 1) File marked as Exhibit 'A' containing pages numbered from page no. 1 to 364; 2) File marked as Exhibit 'B' containing pages numbered from page no. 1 to 316; 3) File marked as Exhibit 'c' containing pages numbered from page no. 1 to 500. TABLE NO. 3 2. Dr. Gulshan Sharma H. No. 79, Village Kansal, Behind Chandigarh Club Mohali 1 mobile phone, 2 SIM cards TABLE NO. 4 Sl No. Name of Account Holder Account No. Balance as on 29.08.2023 in Rs Bank and Branch Code 1 M/s ITFT Consultancy Pvt. Ltd. 910020050748954 1,98,690/- Axis Bank sector 18B, Chandigarh 2 Indu Sharma 520010100017295 5,06,366 Axis Bank 3 Indu Sharma 920040053649561 2,36,999 Axis Bank 4 M/s ITFT Consultancy Pvt. Ltd. 1155002100020599 8,22,895 PNB, Mohali Sector 55 5 M/s ITFT Consultancy Pvt. Ltd. 115500PU00019249 15,34,763 PNB, Mohali Sector 55 6 Indu Sharma 41389091194 17,00,000 SBI, 05850 7 Indu Sharma 41809235010 15,01,000 SBI....
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.... by the Directorate of Higher Education, HP (hereinafter referred to as DoHE) for the disbursement of scholarship to the eligible students. In the said H.P. e-Pass portal, various irregularities were observed. The data regarding the disbursement of Pre-Matric and Post- Matric Scholarship (hereinafter referred to as PMS) for SC/ST/OBC students was analyzed and it was found that in certain instances, single mobile number was mentioned against number of students to whom scholarship was disbursed. Further, Aadhar number was also not mentioned in case of some of the students to whom the scholarship was shown disbursed. It was also revealed that some Institutions had opened the bank accounts of students near their premises. Some bank accounts in Chandigarh and Haryana were also dubious. It was also alleged that more than 80% of the total money disbursed has been granted through Private Institutions which raised suspicion. Thorough verification of the scholarship applications was not done by the concerned officials of the DoHE. No inquiry was made by the officials of DoHE after receipt of so many complaints regarding non-receipt of scholarships by the students After registration of FIR....
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....ng their studies. Further in order to obtain higher amount of scholarship, false details of students were uploaded by (i) changing the course in subsequent years; and (ii) by changing the caste category of students. At the time of admission in different streams, signatures of the students of SC/ST/OBC students eligible to take the benefit of scholarship schemes got appended by bank officials on the blank account opening forms and some blank debit vouchers/cheques in the campus of private institutes. Same mobile numbers were uploaded on HP-e-Pass portal for the students so that all the messages regarding registration and release of scholarship from DoHE, Himachal by the eligible students received by college administration & not. Scholarship was disbursed in the bank account opened in the name of students and the same got transferred to the bank account of private institutes without the consent and knowledge of students. Thereafter, on the basis of material on record, ED inferred that there is reason to believe that the said persons/entities are in possession of proceeds of crime/records which were secreted from the 24 premises as mentioned in paragraph no.6 of the impugned order, an....
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....any direct link between the appellants and the alleged offence and hence, the attachment of the property is arbitrary and illegal. He further contended that continuation of provisional attachment under section 8(3) of the PMLA, is permissible only if the Adjudicating Authority is satisfied and that too for a period of 365 days only and not beyond that. He argued that the Adjudicating Authority failed to record any reasonable ground for confirmation of the PAO and ignored the contention of the present appellants. He further stressed that after the lapse of 365 days, the filing of prosecution complaint by the ED ON 28.03.2025 before the Ld. Special Judge, PMLA Court, does not revive the right of ED to retain the seized/ frozen documents, digital records and bank accounts. Prayer is accordingly made to release the seized/frozen material on merits of the case, as well as on account of lapse of 365 days. 4. The Ld. counsel for the respondents controverted the submissions made by the appellant and the same will be discussed in our analysis and findings in the following paras. 5. After hearing the rival submissions of the parties, we are of the view that the contention of the appell....
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....ween the appellants and the alleged offence is devoid of any merits. In this regard, there is ample evidence as revealed from the investigation that the appellant no.1, Sh. Gulshan Kumar, was involved in the offence of money laundering and further, he himself has admitted during the course of the recording of statement that the source of money received in his bank account were amount withdrawn by him from the account of M/s ITFT Consultancy Pvt. Ltd. under the aegis of which institute M/s ITFT New Chandigarh was running. Moreover, the appellants have not furnished any documentary evidence regarding the source of the amount frozen in their respective bank accounts during searched u/s 17 of the PMLA, 2002. The investigation conducted, so far, has revealed that the scholarship amounts disbursed by the DoHE in the bank accounts of the students were transferred to the bank accounts of the appellant no.2, ITFT Consultancy Pvt. Ltd., without any enforceable debit vouchers. Also, this scholarship was fraudulently received by ITFT, New Chandigarh by showing the students registered with the IK Gujral Punjab Technical University. Further, the appellant 3, Smt. Indu Sharma, has also admitted i....
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....d to the Accused named in the criminal activity relating to a scheduled offence. It would apply to any person (not necessarily being Accused in the scheduled offence), if he is involved in any process or activity connected with the proceeds of crime. Such a person besides facing the consequence of provisional attachment order, may end up in being named as Accused in the complaint to be filed by the authorised officer concerning offence Under Section 3 of the 2002 Act. 69. We find force in the stand taken by the Union of India that the objectives of enacting the 2002 Act was the attachment and confiscation of proceeds of crime which is the quintessence so as to combat the evil of money-laundering. The second proviso, therefore, addresses the broad objectives of the 2002 Act to reach the proceeds of crime in whosoever's name they are kept or by whosoever they are held." [Emphasis supplied] Therefore, the property in the hands of any person in possession of proceeds of crime can be attached, even if he is not accused in the predicate offence or in prosecution complaint for the commission of offence of money-laundering. This issue is accordingly, decided against the app....