Appeal Dismissed on Provisional Attachment Order Under Section 5(1) of PMLA; Statutory Remedies Upheld

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....The HC dismissed the appeal challenging the provisional attachment order under Section 5(1) of the PMLA, 2002, affirming the availability of statutory remedies through the prescribed appellate hierarchy. It was held that the writ jurisdiction under Article 226 cannot be invoked to bypass the comprehensive and efficacious statutory framework, except in extraordinary circumstances. The provisional attachment order, listing specific properties as proceeds of crime, supersedes any prior notices issued under Section 54. Only officers empowered under Section 5 can effect such attachment. The appellants retain the right to contest the attachment before the Adjudicating Authority and exhaust all statutory remedies. The court noted an interim stay o.........