TaxTMI 
TaxTMI 
2025 (8) TMI 1406
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.... Indian Hotels Company Limited have challenged the order dated 10.10.2023 passed by the Adjudicating Authority confirming the provisional attachment of the bank account for a sum of Rs. 20,00,000/- alleged to have been derived out of the proceeds of crime by Shri Abhay Pathak and his son Shri Akash Pathak against whom an FIR was registered for commission of predicate offence under the Prevention of Corruption Act, 1988. Another FIR was registered on 23.09.2020 by the Cyber Crime P.S. CID, Crime Branch, Cuttack where Shri Akash Kumar Pathak was implicated for the offence under Section 419, 420, 467, 468, 469 and 471 of Indian Penal Code (IPC) apart from Sections 66(C) and 66(D) of the Information Technology Act, 2000. 2. The third FIR was....
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....d to forfeit the amount. In the instant case, the appellant invoked the agreement to cancel the booking of the rooms by the hotel and forfeited the amount. In the light of the aforesaid, the amount so deposited towards the booking of the rooms no more remain to be proceeds of crime once it became legitimate earning of the hotel pursuant to the agreement. The Adjudicating Authority ignored the aforesaid aspect while confirming the provisional attachment order of the Bank account of the Indian Hotels Company Limited. The prayer was accordingly made to cause interference in the impugned order. 6. The Counsel for the appellant did not raise any other argument than referred to above, though was having an opportunity to do so, rather, the Coun....
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....no letter for cancellation of the booking and forfeiture of the amount so received from the accused on account of default in making balance payment. The Counsel for the appellant has made mis-statement of fact going contrary to the record and thus appellant is trying to mislead this Tribunal. A serious view on the aforesaid be taken. The prayer was made to dismiss the appeals. Findings of the Tribunal: 9. We have considered the rival submissions of the parties and perused the records. It is not in dispute that several FIRs were registered against the accused for commission of offence under IPC which ultimately resulted in recording of ECIR and the PAO. So far as the appellant, Director of the Indian Hotels Company Limited is concerned....
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....tated about the cancellation of the rooms, however, cancellation of the hotel rooms is not managed or carried on the oral statement, rather, remains in writing. We do not find any notice for cancellation of the booking or the forfeiture of the amount in terms of the agreement and therefore the appellant, the Indian Hotels Company Limited remains recipient of the proceeds of crime and therefore the bank account to that extent has been attached. In fact, the motive of the accused was to keep the amount with the bank account of the Hotel to save it from attachment finding recording of the ECIR against him. It is for that reason alone that despite booking of the rooms, it was not occupied or utilized, rather, no marriage was commenced and in th....