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2021 (4) TMI 1108 - CALCUTTA HIGH COURTProhibition of Benami Property Transactions - petitioners contend that the impugned show cause notices have been issued under the 1988 Act which do not record any reasons as mandated by law - HELD THAT:- Bombay High Court judgment in Joseph Isharat [2017 (3) TMI 1618 - BOMBAY HIGH COURT] and decision in Niharika Jain [2019 (7) TMI 1001 - RAJASTHAN HIGH COURT] are not binding on this Court even though they are having persuasive effect. As already concluded earlier, the Division Bench Judgment in M/s. Ganpati Dealcom Pvt. Ltd [2020 (3) TMI 899 - SUPREME COURT]is binding upon this Court even though the operation of the said judgment has been stayed by the Supreme Court. Accordingly, we are prima facie of the opinion that the writ petitioners are entitled to interim orders at this stage. However, I am of the further view that the Revenue is to be protected as the matter is sub-judice before the Supreme Court. Accordingly, the following interim orders are passed: A. The reference referred to in Section 24(5) of the 1988 Act shall not be treated as final and shall only be treated as provisional during the whole period, the writ applications are pending before this Court. B. Subject to its result, the reference will be treated as final. Thereafter, time to pass the adjudication order under Section 26(7) of the 1988 Act will start to run. Hence, it follows that the respondent authorities will not take any further steps in the matter till the disposal of these writ applications. C. The writ petitioners shall not sell, otherwise transfer, deal with, encumber or part with possession of the subject properties till the disposal of these writ applications. The respondent authorities are granted a period of six weeks to file their affidavits-in-opposition from date. Affidavits-in-reply, if desired to be submitted by the writ petitioners, be submitted within a period of two weeks thereafter.
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