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2019 (1) TMI 831 - AT - Money Laundering


Issues Involved:
1. Legality of the Provisional Attachment Order dated 21.02.2018.
2. Confirmation of the attachment order by the Adjudicating Authority on 6th July 2018.
3. Possession of movable and immovable properties by the respondent.
4. Residential status and hardship faced by the appellants due to the attachment.
5. Valuation and release of movable properties.
6. Use and accommodation charges for the immovable property.

Detailed Analysis:

1. Legality of the Provisional Attachment Order dated 21.02.2018:
The appeals were filed against the Provisional Attachment Order No. 03/2018 dated 21.02.2018, which attached various movable and immovable assets under the Prevention of Money Laundering Act, 2002 (PMLA). The assets included immovable properties, mutual funds, vehicles, and bank account balances.

2. Confirmation of the attachment order by the Adjudicating Authority on 6th July 2018:
The Adjudicating Authority confirmed the attachment order on 6th July 2018. The appellants challenged this confirmation, arguing that the properties were not acquired from the proceeds of crime but from legitimate sources.

3. Possession of movable and immovable properties by the respondent:
Before the hearing date, the respondent took possession of certain movable and immovable properties, including a residential property. The appellants claimed that the possession was taken while the property was occupied by the wife and children of Vijay Yadav @ Sandeep Yadav.

4. Residential status and hardship faced by the appellants due to the attachment:
The appellants submitted affidavits and documentary evidence, including Aadhar Card, 10th Class Certificate, gas connection receipts, and electricity bills, to prove that the immovable property was their residence. They argued that the attachment caused significant hardship as they had no other place to live.

5. Valuation and release of movable properties:
The appellants proposed to deposit the market value of the movable properties with the respondent. The Tribunal agreed with the appellants' valuation and ordered the release of the movable properties upon deposit of the suggested amounts within eight weeks.

6. Use and accommodation charges for the immovable property:
The Tribunal accepted the appellants' undertaking not to dispose of the immovable property until the final decision of the appeal. It directed Smt. Rajanti Devi to deposit Rs. 3,000/- per month as use and accommodation charges with the respondent. Arrears from July to December 2018 were to be deposited within eight weeks.

Conclusion:
The Tribunal ordered the release of the attached properties subject to the appellants depositing the suggested amounts for movable properties and monthly use and accommodation charges for the immovable property. The Tribunal acknowledged the hardship faced by the appellants and allowed them to use the residential property until the final decision of the appeal.

 

 

 

 

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