2021 (1) TMI 1161 - HC - Money Laundering

Status quo with regard to the ownership, possession and encumbrance upon the properties - HELD THAT - The Adjudicating Authority shall not proceed further as this LPA is pending before this Court. The operation, implementation and execution of the judgment and order of the learned Single Judge is stayed - List on 29.01.2021.

Summary

Issues:
1. Maintenance of status quo regarding ownership, possession, and encumbrance of properties.
2. Stay on the operation of judgment and order passed by the Single Judge.

Analysis:
1. The judgment addresses the issue of maintaining status quo with regard to ownership, possession, and encumbrance of properties in question. The Court refers to an order dated 02.12.2020 passed in a specific case, directing the parties to maintain status quo. The learned counsel for the appellants highlights this order, emphasizing the importance of upholding the status quo until further proceedings. The Adjudicating Authority is instructed not to proceed further due to the pending appeal before the Court, ensuring that the situation remains unchanged until the resolution of the appeal.

2. Another significant aspect of the judgment involves staying the operation, implementation, and execution of the judgment and order issued by the learned Single Judge on 18.11.2020 in a particular case. The Court mentions reliance on an order passed by the Hon'ble Supreme Court in a related matter, which serves as a basis for the decision to stay the execution of the Single Judge's order. By staying the operation of the judgment, the Court effectively puts a hold on any actions or decisions based on the previous ruling until the appeal is further deliberated. The next hearing is scheduled for 29.01.2021, indicating the timeline for the continuation of the legal proceedings in this matter.