2022 (3) TMI 1601 - HC - Money Laundering

Money Laundering - attachment of property - HELD THAT - The actual attachment is not disturbed - However, the Enforcement Directorate will not demand vacant possession of the two properties in question nor take coercive steps for possession of the two properties until further orders of this Court or the Appellate Authority under the provisions of the Prevention of Money Laundering Act, 2002. It is noted that appointments to the post/s of the Appellate Authority are yet to be made. If that appointment is made, a liberty to the parties to apply to that authority. The petition is disposed off.

Summary

Issues involved: Enforcement Directorate's demand for vacant possession of properties, coercive steps for possession, appointment of Appellate Authority under Prevention of Money Laundering Act, 2002.

Enforcement Directorate's Demand for Vacant Possession:
The High Court of Bombay, in the case, decided that a short order sufficed to dispose of the Petition. The Court ruled not to disturb the actual attachment of the properties in question. However, it was specified that the Enforcement Directorate would not demand vacant possession of the two properties nor take coercive steps for possession until further orders of the Court or the Appellate Authority under the provisions of the Prevention of Money Laundering Act, 2002.

Appointment of Appellate Authority:
The judgment noted that appointments to the post/s of the Appellate Authority under the Prevention of Money Laundering Act, 2002, were yet to be made. It was mentioned that if the appointment is made, the parties have the liberty to apply to that authority. The Court did not provide any further directions on the Petition, keeping all contentions before the Appellate Authority, including those raised in the present Petition, open for consideration.

Conclusion:
In conclusion, the Petition was disposed of by the High Court of Bombay in the specified terms, with no costs imposed on either party.