2025 (3) TMI 1627

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....ed through the Liquidator has filed an application under Section 35 of the Prevention of Money Laundering Act, 2002 (in short 'the Act of 2002') to seek interim relief pending appeal. The following prayer has been made by the appellant: "a. Allow this application and pass an order allowing the Liquidator/Applicant to sell the attached property of the Corporate Debtor attached by Respondent vide the Impugned Order dated 20.11.2018 and deposit the sale amount to the tune of quantified proceeds of crime in a bank account which is to be kept under lien with the Respondent ED; and/or b. Pass an order directing the Respondent to accept the bank deposit resulting from the sale realization on account of the sale of the assets by t....

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.... by efflux of time, rather the value of the properties have escalated as per the record otherwise if all the properties are allowed to be auctioned, there would remain nothing in the appeal. 6. The counsel for the respondent further submitted that there should not be any anxiety to the liquidator to auction the immovable properties otherwise invariably in auction, proper value is not achieved, therefore, taking aforesaid into consideration, this Tribunal may not allow auction of the immovable properties pending consideration of the appeal. 7. We have considered the rival submissions and find that if the prayer made in the application for interim relief is granted, it may amount to granting final relief by an interim order though not p....

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....uidator and other related issues on an interim application. It would be decided at the time of final disposal of the case. Thus, at this stage, we are inclined to grant partial relief to the appellant on the interim application filed by them and accordingly we allow them to sell the motor vehicles under attachment in consonance to Rule 4 of the Rules of 2013. The sale of motor vehicles would be according to the provisions of law and to get the best value of the vehicles, the respondent ED may supervise the sale though it would be undertaken by the liquidator. Accordingly, we allow the appellant liquidator to sell/auction of the motor vehicles in accordance with the rules and ED may supervise the sale. The amount received thereupon would be ....