2025 (3) TMI 1640

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....rder dated 22.09.2016 passed by the Adjudicating Authority in Original Complaint (O.C) No. 588/2016 whereby the properties attached by ED vide PAO No. 02/2016 dated 29.03.2016 were confirmed. The appellants are challenging the attachment qua the property mentioned at Serial No. 6 i.e. House No. 6, Southern Avenue, Maharani Bagh, New Delhi jointly purchased by P.K. Tewari, his wife Smt. Meena Tewari and sons Anand Tewari and Abhishek Tewari having value of Rs. 12.50 Crores. 2. As per the facts of the case, CBI registered FIR No. RCBDI/2012/E/0003 dated 23.02.2012 filed by CBI, BSFC, New Delhi against M/s Century Communication Ltd. and others for commission of offences under Section 120-B, 420, 467, 468,471 IP....

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....ecorded ECIR No. DLZO/10/2013 dtd. 20.06.2013 for conducting investigation qua the offence of money laundering committed by the accused persons and others. During investigation, ED recorded the statements of suspects/accused and other persons under Section 50 of PMLA, and thereafter, being satisfied with the material on record attached the properties vide PAO No. 02/2016 dated 29.03.2016. Thereafter, ED filed O.C No. 588/2016 before the Adjudicating Authority for the confirmation of the said properties. The Adjudicating Authority being satisfied with the allegations mentioned in the O.C coupled with the relied upon documents issued the show cause notice to all the defendants. After hearing both the sides and perusal of the....

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....t this right of the appellant bank cannot be curtailed on account of attachment on the pretext that Consortium of number of banks were defrauded by the accused persons. Prayer is accordingly made to allow the present appeal qua the property at Serial No. 6 and thereby modify the impugned order passed by the Adjudicating Authority confirming the said attachment. 5. Learned counsel for the respondent ED pointed out that property at Serial No. 6 is apparently acquired from the proceeds of crime by tendering sum of Rs. 3.90 Crores out of the proceeds of crime and by taking loan of Rs. 2.35 Crores from HDFC Bank. He stressed that the appellants also paid the EMI to HDFC bank from the proceeds of crime, and hence, all the p....