2025 (9) TMI 131

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....No. 1104/2019, whereby the properties attached by ED vide PAO No. 01/2019 dated 14.02.2019 were confirmed, including the properties mortgaged with the present appellants as under: Sr. No. Name of owner Place where property situated Nature of Property Description of the property Area Documents Details Value Rs.  In Lakhs Remarks 1. Shirish D Kulkarni Miraj Land Village Malgaon, Tal. Miraj, Dist. Sangli Gat No. 2263/Α/1/3, 2246/A Area 0 H 40 R 0 H 40 R Notorised agreement dt. 11/01/201 2, Sale Deed 2683/2012 06/07/201 2 185.00 For the attachment Agreement value entered with the agriculturist has been considered. 2. Shirish D Kulkarni Miraj Land Village Malgaon, Tal. Miraj, Dist. Sangli (Gat No. 2246/A) Area +....

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....rector/ Partner/Proprietor etc. offered to gullible general public, attractive interest on the investments in the form of Fixed Deposits and also on unsecured loan, and thereafter the investors were subsequently cheated of their invested amount, apart from the promised interest on the amount invested. After investigation EOW, Pune Unit filed the Charge Sheet against the said accused person for commission of offence under Section 120-B IPC read with 406, 409, 420, 411, 465, 467, 468, 471 of IPC and also under r/w Section 3 & 4 of MPID Act, 1999 and substantive offences thereunder. The investigation conducted by ED had revealed that the total fraud committed by the accused persons is to the extent of Rs. 70752.27 lakhs with respect to FDs a....

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.... Ld. Counsel for the appellant banks submitted that appellants granted several credit facilities, which were secured by mortgage of immovable properties, as mentioned in para no.1 above. He pointed out that the said properties are in the name of mortgagor Shirish D Kulkarni. He pointed out that the loan accounts of the said mortgagor become Non-Performing Assets (NPA) and the debtors have not discharged the outstanding loan liability alongwith interest till date. Ld. Counsel for the appellants submitted that the appellant banks are the victim of the fraud and now being made to lose its valuable security being wrongly attached by ED without appreciating the fact that the same are mortgaged properties. He contended that the appellant banks be....