TaxTMI 
TaxTMI 
2026 (4) TMI 528
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....thority in Original Complaint No. 630/2016, whereby the properties attached by ED vide Provisional Attachment Order No.16/2016 (PAO) dated 17.08.2016 were confirmed. The properties of the present appellants are as under: SCHEDULE OF PROPERTIES 1. (a) All that piece and parcel of land with factory building thereon in Coimbatore Registration District, Mettupalayam Sub-Registration District, Avanashi Taluk, Pogalur Village in SF No.170/2, an extent of 4.62 acres, Assessment 2.31, within the following boundaries North of Boundary of Oddarpalayam village, South of East-west Annur - Mettupalayam Road, East of: SF No. 170/1, West of SF No. 171/2 with an open well measuring 10 feet dia, 20 feet deep therein. (b) SF No.171/1 an ....
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....ent of 0.50 acres in S.F.No.118 (New S.F.No. 118/1A) in Sukkavanaickenpatti village Palani Taluk, Dindigul District In that the triangle shaped vacant land with usual pathway right. ((a) & (b) covered under Document No.704 dated 06.04.1988 registered with Sub-Registration of Palani Joint II in the name of M/s Sri Krishnavijayam Spinning Mills Pvt. Ltd.] Market/Guideline Value estimated at Rs. 3 crores. III. All that piece and parcel of land measuring to the extent of 1.91 acres (1.20 acres in S.F. No. 12/1 and 0.71 acres in S.F. No. 12/2A2) out of 1.95 acres in S.F.No.12/1 and 2.59 acres in S. F. No.12/2A2, totaling to 4.54 acre, with factory building and usual pathway right in Chitrakulam village, Palani Taluk, Dindigul D....
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....Shri G. Srinivasan of SPSMPL filed an application with M/s Global Trade Finance Ltd. (GTFL) for limit of Rs. 10 Crores by furnishing false and fabricated financial statements and other documents. On the basis of the said documents, loan was sanctioned on 02.06.2007, which was subsequently enhanced to Rs. 15 Crore and Rs. 25 Crores on 18.10.2007 and on 15.03.2007 respectively. SPSMPL actually had no business transactions with its three debtors firms viz. M/s Sri Sri Agencies, M/s Sri Venkateshwara Cotton and M/s Harsha Cottons, but based on false/fake and fabricated sale bills/invoices drawn on non-functional, fictitious buyers/debtors, it had by cheating GTFL wrongfully obtained funds to the tune of Rs. 25 Crores and thereafter diverted it ....
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....d M/s Milan Tex Fabrics had furnished false/fake and fabricated sale bills/invoices drawn on non-functional, fictitious buyers/ debtors to GTFL and diverted the funds for other purposes. S/Shri R. Selvakumar, G. Srinivasan, P. Venkatachalapathy and R. Manoharan were thus charged to have caused a wrongful loss of Rs. 23.85 Crores to GTFL and corresponding wrongful gain for themselves. C. CBI, BS&FC, Bangalore also registered the FIR No. RC-9(E)/2010 dated 07.10.2010 against the accused persons namely S/Shri S. Arivarasu, R. Manoharan, (Proprietor of BTM), R. Selvakumar, G. Srinivasan, K. Marutha Mutthu, V. Indu Nesan, K. Vignesh, A. Senthil Kumar and M. Ramakrishnan for the commission of offences under Section 120-B IPC read with Se....
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....aid accused persons/ suspects for initiating the investigation for the offence of money laundering under PMLA, 2002. During investigation ED recorded the statements of the suspects and others under Section 50 of PMLA and also collected the documents from the investigation agencies and the other sources. Accordingly, ED attached the property of the appellants vide Provisional Attachment Order No. 16/2016 dated 17.08.2017 as mentioned in para no. 1 above, and thereafter, filed Original Complaint No. 630/2016 before the Adjudicating Authority for confirmation of the said properties. The Adjudicating Authority after going through the allegations mentioned in the OC coupled with the documents and the statements under Section 50....