9911796707
TMI Blog2020 (9) TMI 1030X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner would be free to agitate its pleas before the Adjudicating Authority under the PMLA. Payment to the NHB shall be a pro-tem measure in the peculiar facts and shall abide by the final orders of the Adjudicating Authority. If the Adjudicating Authority finally determines that the said amount ought to be paid back to the ED, the NHB shall abide by the said order and shall re-deposit the said amount within a period of six weeks after the passing of the order by the Adjudicating Authority, subject to any orders passed by a superior court/tribunal. If refund is ordered by the adjudicating authority, no interest shall be payable by the NHB. Only the principal amount which is being transferred from the HDFC Bank to the NHB would be liabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the National Housing Bank (hereinafter NHB ), which is a government bank. The said fixed deposits are currently lying with the HDFC Bank. 3. The Directorate of Enforcement (hereinafter ED ) appearing through Mr. Amit Mahajan, ld. CGSC had taken a preliminary objection to the effect that the writ itself is not maintainable in view of the orders passed by the Coordinate Bench dated 1st June, 2020 and 10th June, 2020 in a bunch of writ petitions which also involved the Petitioner. He further submits that the question as to whether the amount belongs to the NHB and whether it is to be released to the NHB, ought to be decided by the Adjudicating Authority under the PMLA and not by this Court. 4. On the other hand, Mr. Siddharth Aggar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3083/2020 and, in fact, liberty was specifically reserved for the Petitioner to avail of his remedies in accordance with law. Insofar as the quashing of the said attachment order is concerned, this Court is inclined to pass a similar order as order dated 10th June, 2020 in similar writ petitions being W.P. (C) 3083/2020 and connected matters involving the Petitioner, however, with one distinction. Insofar as the amount of ₹ 42,85,32,698.63/- belonging to the NHB is concerned, simply attaching the said amount and not putting it to any utility would not be prudent, since the NHB is a bank which belongs to the Central Government and the amount can be put to good use. The Petitioner having admitted the fact that the amount belongs to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner and if the Adjudicating Authority passes an order for re-deposit of the amount, the same shall be debited from the Petitioner s account. 10. Ms. Takiar, ld. counsel for the NHB shall communicate the details of NHB s bank account today itself to Mr. Amol Sharma, ld. counsel for the HDFC Bank. HDFC Bank shall ensure that the amount of ₹ 42,85,32,698.63/- is transferred to the NHB on or before 28th September, 2020. 11. Before the Adjudicating Authority, the Petitioner shall be impleaded in the attachment proceedings and shall be heard before any order is passed. 12. It is made clear that this Court has not gone into the merits of the attachment order or the merits of any of the disputes between the Petitioner and the NHB. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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