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2022 (9) TMI 1592 - SCH - Money LaunderingSeeking release of attached scheduled properties - the petitioners approached the High Court challenging the order of provisional attachment/ attachment as the Appellate Authority was not available - HELD THAT - It is reported that now the Appellate Authority is available and therefore, the petitioners proposed to approach the Appellate Authority to challenge the order of attachment. Release of attached properties - HELD THAT - As the petitioner is ready and willing to deposit Rs. 3,00,00,000/- in fixed deposit in any nationalised Bank with the lien in faovur of the Enforcement Directorate and the copy of the fixed deposit would be deposited with the E.D., we direct that on producing the fixed deposit of Rs. 3,00,00,000/-, with no lien of any other party, except the Enforcement Directorate and by way of interim order, the attachment with respect to aforesaid properties is ordered to be lifted. Meaning thereby, the order of attachment shall be substituted by the aforesaid fixed deposit. However, the same shall be without prejudice to the rights and contentions of the respective parties in the proceedings to be initiated before the Appellate Authority. SLP disposed off.
Issues involved: Challenge to order of attachment of scheduled properties before High Court.
The High Court was approached to challenge the order of attachment of properties worth Rs. 72,00,00,000/- due to unavailability of the Appellate Authority. The petitioners intended to challenge the order before the Appellate Authority. The petitioners sought release of properties attached, valued at Rs. 72 crores, in response to allegations amounting to Rs. 3 crores. The ASG was unable to justify why two properties were attached when one would suffice for the alleged amount. The petitioners offered to deposit Rs. 3 crores in a fixed deposit with the Enforcement Directorate, leading to the lifting of the attachment on producing the fixed deposit. The order specified that the attachment would be substituted by the fixed deposit, without prejudice to the rights of the parties before the Appellate Authority. The Appellate Authority was directed to handle the proceedings independently and in accordance with the law. The Special Leave Petition was disposed of, and pending applications were also disposed of.
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