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TMI Blog2017 (11) TMI 1499X X X X Extracts X X X X X X X X Extracts X X X X ..... te of Enforcement, Kolkata [2017 (8) TMI 754 - ATPMLA] at somewhat similar situation held that in the conduct of the banks are always bonafide. Both banks are innocent parties. There is no nexus whatsoever between the alleged crime and the two bank who are mortgagee of all the properties which were purchased before sanctioning the loan. Thus no case of money-laundering is made out against banks wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been filed under section 26 of the PMLA Act against the order dated 13.09.2017 passed by the Adjudicating Authority. 2. The case of the Appellant is closely similar to the case decided by this Tribunal on dated 14.07.2017 in State Bank of India and Ors. Vs. The Joint Director, Directorate of Enforcement, Kolkata. In Paragraphs 46 and 47 of the Judgment, this Tribunal found that the attached pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed much prior to the period when the facility of loan sanctioned to the borrowers. The banks while rendering the facilities were boanfide parties. It is not the case of the respondent that the attached properties were purchased after the loan was obtained. The mortgaged of the properties were done as bonafide purposes. None of the bank is involved in the schedule offence. No PMLA proceedings are p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peared from the impugned order. 3. The said Judgment passed by us has not been considered and followed by the Adjudicating Authority. It is a very serious matter. The Authority is supposed to give due respect to the judgment of the higher Authority and Courts. The said judgment was passed by referring the decisions of Supreme Court, Full Bench of the High Court of Madras and other High Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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