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TMI Blog2017 (4) TMI 305X X X X Extracts X X X X X X X X Extracts X X X X ..... ellate Tribunal constituted under Section 12 of SAFEMA shall be the Appellate Tribunal under the PMLA. With regard to the composition of Benches of the Appellate Tribunal, sub-section (6A) of Section 12 of SAFEMA as amended by the Finance Act, 2016 (28 of 2016) specifically provides for constitution of single Member or two Member Benches and for such Benches to exercise the powers and functions of the Appellate Tribunal. It is well settled that the Appellate Tribunal being a creation of the statute is bound to act in accordance with the provisions of the said statute. The application is therefore, without any merit also. - MP-PMLA-1889/MUM/2015 (u/s 35), MP-PMLA-1659/MUM/2015 (MICS), MP-PMLA-1585/MUM/2015 (I.R.) & FPA-PMLA-829/ MUM/2015 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Tribunal primarily discharges judicial functions and exercise judicial power of far reaching effect. While exercising Judicial function and deciding the complicated questions both of law and fact, having far reaching consequences, the presence of having a preponderance of judicial members in the Bench is of the utmost necessity and is essential. For the above propositions, the application also places reliance on certain judgments of the, Hon ble Supreme Court and a judgment of the Hon ble Madras High Court. 3. Considering that there has been an amendment in the PMLA relating to the constitution of the Appellate Tribunal, its composition, etc., by the Finance Act, 2016 w.e.f. 1-6-2016 and which may have implications for the present app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the said Act, as amended by the Finance Act of 2016 specifically provides for constitution of single Member or two Member Bench by the Chairman of the Appellate Tribunal and for such Benches to exercise the powers and functions of the Appellate Tribunal, how the Tribunal could act contrary to the same, the learned counsel was not in a position to respond to the query and did not press the matter further. 5. Responding to the submissions on behalf of the appellant, the learned counsel for the respondent stated that the Finance Act, 2016 (18 of 2016) w.e.f. 1-6-2016 has brought about changes in the provisions relating to the Appellate Tribunal under the PMLA. Several sections of the PMLA pertaining to the composition, etc., of the App ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s amended by the Finance Act, 2016 (28 of 2016) it is provided that the Appellate Tribunal constituted under Section 12 of SAFEMA shall be the Appellate Tribunal under the PMLA. With regard to the composition of Benches of the Appellate Tribunal, sub-section (6A) of Section 12 of SAFEMA as amended by the Finance Act, 2016 (28 of 2016) specifically provides for constitution of single Member or two Member Benches and for such Benches to exercise the powers and functions of the Appellate Tribunal. It is well settled that the Appellate Tribunal being a creation of the statute is bound to act in accordance with the provisions of the said statute. The application is therefore, without any merit also. 8. In view of the discussion above, the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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