2026 (1) TMI 716

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....bstance prohibited under the Narcotics Drugs and Psychotropic Substances (NDPS) Act 1985, having an estimated value Rs. 7,87,15,000/- was seized and a syndicate dealing in prohibited drugs was uncovered. An FIR (FIR No.0048/2023 dt. 16.03.2023) was registered at Jogeshwari Police Station, Mumbai under sections 8(c), 22(c) & 29 of the NDPS Act, read with 18(c) of the Drugs and Cosmetics Act, 1940. Investigations conducted in pursuance of the FIR resulted in filing of the charge sheet against various persons found to have been involved in the case. 3. Since the FIR revealed offences which constituted „scheduled offences' under the PMLA, an ECIR (ECIR/MBZO-I/46/2023 dated 13.10.2023) was registered by the ED under the PMLA. Further, since one of the accused persons, namely, Aliasgar Shirazi, was found to have been named as an accused in a similar FIR filed in 2020 under the NDPS Act, therefore, the said FIR was also subsumed in the same ECIR. During the course of the investigations conducted by the ED in pursuance of the ECIR, search operations under section 17(1) of the PMLA were conducted by the Mumbai Zonal Office of the Directorate at various premises including House No. ....

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....he Hon'ble Supreme Court which reads as below: "8. A very limited issue arises for consideration in this appeal. The issue is about the period for which the order of attachment or retention or freezing passed by the Adjudicating Authority under sub-Section (3) of Section 8 will continue to operate. Section 8 of the PMLA was amended from time to time. We are concerned with Section 8 which was on the statute book from 14th May, 2015 till 18th April, 2018 (both days inclusive). 3 Sub-Section (3) of Section 8 which was on the statute book during the said period reads thus: "(3) Where the Adjudicating Authority decides under sub- section (2) that any property is involved in money laundering he shall, by an order in writing, confirm the attachment of the property made under sub-section (1) of section 5 or retention of property or [record seized or frozen. under section 17 or section 18 and record a finding to that effect, whereupon such attachment or retention on freezing of the seized or frozen property (a) continue during the pendency of the proceedings relating to offence under this Act before a court or under the corresponding law of any other country, befo....

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....e clear beyond any shadow of doubt by the Hon'ble Supreme Court in the said order, that in the case before them, they were concerned only with Section 8 as it existed on the statute book from 14th May, 2015 till 18th April, 2018. In the present case, the impugned order was passed only on 24.06.2024. Secondly, in that case, the issue involved was whether the order passed by the Ld. AA would cease to exist after completion of the period of 90 days as provided in Section 8(3)(a) as it existed at the relevant time. The factual finding recorded by the Hon'ble Supreme Court was that there was no dispute that when the order under Section 8(3) was passed by the AA in that case, the prosecution complaint already stood filed and the proceedings in the PMLA case were pending before the Ld. Special Court. The Apex Court found that the Appellate Authority and the High Court had relied upon the wrong legal provision, which was not applicable at the relevant time, and accordingly, allowed the appeal filed by the Union of India. Thus, the said case is entirely distinguishable both on facts and the applicable legal provision from the present one. Moreover, as already mentioned, it does not lay down....

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....IRAM2LLC" with the address 17216 North Avenue, 33 Ave Apt 2065 Phoenix, Arizona have been used multiple times for delivery of various consignments of opioid tablets in USA. Hence, it was prima-facie evident that Akhil Chauhan and Neilofer Bodh, w/o Akhil Chauhan are also associated with Haider Abbas and Inayatali @ Mohammed Yavarabbas Sayyed in the drug syndicate and are involved in routing of funds from USA to M/s Global Insight Telecommunication of Haider Abbas Syed." 12. As regards Haider Abbas, investigations revealed that he was illegally shipping various opioids to USA with the associates Inayat Ali @ Mohammed Yavarabbas Sayyed, Sajid Mirza and Sayed Shahab. Further, he was associated with the companies' M/s Global Insight Telecommunication and M/s Rising Star Communications Pvt. Ltd. as partner and director respectively. As is evident from the extract reproduced in the preceding paragraph, analysis of accounts of these companies revealed that they received significant credits from USA using the guise of consultancy services. Further, funds have been credited to M/s Global Insight Telecommunication of Haider Abbas Syed from M/s Global Link Solutions the company of Sh. Akhi....