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TMI Blog2019 (9) TMI 585X X X X Extracts X X X X X X X X Extracts X X X X ..... eply, appellant has put its case in details issue-wise. No doubt, the contents of the reply was re-produced but the said legal issues have not been decided. The impugned order is set-aside on the reason that the impugned order has without assigning any reasons, and much less any legally cogent reasons, independent mind has not been applied. We allow the appeal and the matter is remanded back to Adjudicating Authority for fresh adjudication after considering the reply filed by the appellant to the notice under Section 8 (1) of Act. The Adjudicating Authority shall hear the matter on all the issues and shall consider all the issue raised in the reply. Adjudicating Authority is granted six months time from 21.10.2019 to decide the matter by the Member (Law) after hearing both side. - MP-PMLA-4147/BNG/2017 (Stay) FPA-PMLA-2120/BNG/2017 - - - Dated:- 11-9-2019 - Justice Manmohan Singh Chairman And Shri G. C. Mishra Member For the Appellant : Shri Rajiv Nayar, Sr. Advocate, Shri Omar Ahmad, Advocate, Shri Arjun Dewan, Advocate For the Respondent : Shri Atul Tripathi, Advocate JUDGEMENT FPA-PM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (e ) Other unknown Public Servants of M/s. Antrix Corporation Ltd.,/ISRO, Department of Space. 5. That, the CBI filed the charge sheet in the subject case on 11-8- 2016 against the 9 accused as detailed below: (a) Shri K.R. Sridhara Murthi, Managing Director (Retired), Antrix Corporation Ltd., (b) Shri Ramachandran Vishwanathan, President CEO M/s. Devas Multimedia Pvt. Ltd., (c ) Shri M.G. Chandrasekhar, Director M/s. Devas Multimedia Pvt. Ltd. (d) M/s. Devas Multimedia Pvt. Ltd., Bangalore (e ) Shri G. Madhavan Nair, Retired Secretary DoS, Chairman ISRO Chairman Antrix (f) Shri Veena S. Rama Rao, Then Additional Secretary, DoS (g) Shri A. Bhaskarnarayana, Retired Director, ISRO Satellite Communication Office (h) Shri D. Venugopal, Director M/s. Devas Multimedia Pvt. Ltd., (i) Shri M. Umesh, Chartered Accountant 6. PMLA Case (a) Statement of Shri K.R. Sridharamurthi, the then Executive Director and Managing Director of ACL was recorded on 20-10- 2015. In t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rther, the statement dated 25-1-2017 of Shri D. Nataraj, Ex- Director of DMPL was recorded under the provisions of PMLA. (g) During the investigation it is noticed that DMPL has transferred an amount of ₹ 76,19,04,563/- towards share subscription and ₹ 180,77,58,989/- towards Business Support Service to its subsidiary M/s. Devas Multimedia America Inc. and ₹ 232,11,14,734/- as legal expenses mainly to SKADDAN, USA towards the arbitration case filed by DMPL against ACL. (h) During the investigation all the three Directors agreed that even though M/s. Devas Multimedia America Inc. is a subsidiary of DMPL the fact is M/s. Devas Multimedia America Inc. is controlling DMPL. It was further revealed that, the total staff of DMPL was only 3 and the Staff Strength of M/s. Devas Multimedia America Inc. was also only 3. The said Directors also stated that, there is no such Business Support Service provided by M/s. Devas Multimedia America Inc. and the Business Support Service is only a guise/pretext to transfer money out of the country. (i) Further, an amount of ₹ 58,37,34,000/- is available with Antrix Corporation L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Hon ble Adjudicating Authority vide the Order dated 11- 10-2017 in the O.C. No. 2017 confirmed the PAO in respect of the attachment involved in the W.P. No. 11544/2017. (q) As on date, entire Proceeds of Crime attached under Provisional Attachment Order No. 5/2017 dated 27-2-2017 amounting to ₹ 79,76,00,041/- + the accumulated interest totally amounting to ₹ 80,50,12,484/- was already taken possession by the Directorate u/s 8(4) of the PMLA. (r ) Further, Prosecution Complaint for offence of Money Laundering u/s 3 punishable u/s 4 of the Act, was filed against DMPL and 9 others before the Hon ble Principal City Civil Sessions Judge, Bangalor City and Special Court under the Prevention of Money Laundering Act, 2002 on 12-7-2018 and Special CC No. 477/2018 has been allotted to the said case and same was made over to the Hon ble CBI Court/Spl, Court under PMLA, Bengaluru. 7. After completing the formalities, the provisional attachment order was passed which was confirmed by the impugned order dated 11.10.2017. 8. When the appeal was listed for hearing, on the following issues, the same has been argue ..... X X X X Extracts X X X X X X X X Extracts X X X X
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