2020 (10) TMI 207 - HC - Money Laundering

Validity of provisional order of attachment - statutory appeal before the first respondent, along with the petition for condonation of delay - HELD THAT - This Court directs the appellate Tribunal/Prevention of Money Laundering, New Delhi, to accord priority and give disposal to petition and the connected petitions, in accordance with law, as expeditiously as possible and not later than three months from the date of receipt of a copy of this order. Petition disposed off.

Summary

Issues:
1. Challenge to provisional order of attachment of immovable properties under the Prevention of Money Laundering Act, 2002.
2. Delay in disposal of statutory appeal and connected petitions.
3. Request for early hearing and disposal of applications and appeal.

Analysis:

Issue 1: Challenge to provisional order of attachment
The petitioners challenged a provisional order of attachment against their immovable properties, including a 5.74-acre land, under the Prevention of Money Laundering Act, 2002. They claimed no connection with the individuals against whom the case was registered and sought to sell the property to overcome financial crisis. The High Court directed the appellate Tribunal to prioritize and dispose of the appeal and connected petitions within three months.

Issue 2: Delay in disposal of statutory appeal
The petitioners filed a statutory appeal against the provisional order of attachment, along with petitions for early hearing, stay, condonation of delay, and exemption. Despite multiple hearing dates, the disposal of these applications was pending. The Court acknowledged the delay and instructed the appellate Tribunal to expedite the disposal of the appeal and related petitions within three months.

Issue 3: Request for early hearing and disposal
The petitioners' counsel emphasized their lack of involvement in any proceeds of crime and their disconnect from the individuals mentioned in the case. They requested early hearing and disposal of the applications and appeal. The Court considered the limited scope of the petitioners' prayer and directed the appellate Tribunal to prioritize and dispose of the matter expeditiously, setting a three-month deadline for the same.

In conclusion, the High Court addressed the issues raised by the petitioners regarding the provisional attachment order, the delay in disposal of the appeal, and the request for early hearing and disposal. The Court's directive to the appellate Tribunal ensures a timely resolution of the matter in accordance with the law.