2019 (5) TMI 1905 - AT - Money Laundering

Money Laundering - proceeds of crime - scheduled offence - attachment of property which is derived or obtained directly or indirectly, by any person as a result of criminal activity relating to the scheduled offence - Section 2(1)(u) of PMLA, 2002 - HELD THAT - Having gone through the grounds of appeal and material placed on record, it appears that the prima facie strong case is made out for passing the interim order. Both the parties shall maintain status quo till the next date.

Summary

Issues involved:
1. Fresh appeal filed under section 26 of PML Act, 2002 against the order dated 12th April, 2018.
2. Application for stay under Section 8(4) of the Act - opposing interim order.

Analysis:

Issue 1: Fresh appeal filed under section 26 of PML Act, 2002 against the order dated 12th April, 2018.
The Appellate Tribunal, Prevention of Money Laundering, received a fresh appeal under section 26 of the Prevention of Money Laundering Act, 2002, challenging an order dated 12th April, 2018. The Tribunal issued a notice for the appeal and the application for stay, directing the parties to file their replies within six weeks. The matter was listed for further proceedings on 9th July, 2019.

Issue 2: Application for stay under Section 8(4) of the Act - opposing interim order.
The appellant's counsel sought an interim order based on a notice issued under Section 8(4) of the Act. The application for stay was strongly opposed by the respondent's counsel. The impugned order highlighted that the property was attached as 'Proceeds of Crime' under Section 2(1)(u) of PMLA, 2002, regardless of when it was purchased in relation to the scheduled offence. The FIR and charge sheet were mentioned as filed by the CBI for a scheduled offence, with criminal charge proceedings pending in court. However, the appellant's counsel disputed the existence of any such FIR and charge sheet by the CBI against the appellant. After hearing both parties and reviewing the grounds of appeal and evidence, the Tribunal found a prima facie strong case for passing an interim order, directing both parties to maintain the status quo until the next hearing date. The order was to be provided 'dasti' to both parties for reference.

This comprehensive analysis covers the key issues addressed in the judgment, detailing the legal proceedings and arguments presented by the parties involved in the case before the Appellate Tribunal, Prevention of Money Laundering.