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TMI Blog2021 (7) TMI 963X X X X Extracts X X X X X X X X Extracts X X X X ..... First Appeal No. 164 Of 2021 With Civil Application (For Orders) No. 2 Of 2021 - - - Dated:- 9-7-2021 - In R/First Appeal No. 164 Of 2021 With R/First Appeal No. 4908 Of 2018 With R/First Appeal No. 4914 Of 2018 Honourable Dr. Justice Vineet Kothari And Honourable Mr. Justice B.N. Karia For the Appellant(s) : Mr Devang Vyas For the Defendant(s) : Mr Aftabhusen Ansari ORAL ORDER (PER : HONOURABLE DR. JUSTICE VINEET KOTHARI) ORDER IN FIRST APPEAL NO. 164 OF 2021 AND FIRST APPEAL NO. 4914 OF 2018: These both the Appeals have been preferred by the Deputy Director, Directorate of Enforcement Government of India against M/s. Jayant Oil Products Private Limited, M/s. Biotor Industries Limited an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant nor the PMLA proceedings. In addition, the statement is also made for the first property is purchased on 4th March 1972 and the second one is 22nd December 1975. The said two properties were attached in lieu of value thereof. He submits that two of the directors (Shri Bharat M. Kapadia and Shri Rajesh M. Kapadia) who were earlier director of the M/s. Biotor Industries Ltd. had already resigned on 25th September, 2008 in 1978 before filing the FIR. He undertakes on behalf of the appellant, despite of that shall not be disposed of directly or indirectly till the appeal is finally decided. Thus, prima facie case is made out for grant of interim protection. The other objections raised by Shri Vikas Garg, the learned counsel for the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng to the Appellant-Union of India and its Officials that in case any such further appeal is found to be filed against the Interlocutory Orders of the Tribunal below without any valid rhymes or reasons, the exemplary Costs will be imposed upon the Officials to be recovered from their personal resources. With these observations, First Appeal No. 164 of 2021 and First Appeal No. 4914 of 2021 are dismissed. No costs. (DR. VINEET KOTHARI,J) (B.N. KARIA, J) ORDER IN CIVIL APPLICATION (FOR STAY) NO. 1 OF 2021 AS WELL AS CIVIL APPLICATION (FOR ORDERS) NO. 2 OF 2021 IN R/FIRST APPEAL NO. 164 OF 2021: In view of the dismissal of First Appeal No. 164 of 2021, Civil Application (For Stay) No. 1 of 2021 as well as Ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the reply filed by the appellant contrary to 8(2) of the Act. The issue of mortgage of properties was already available with ED while recording the statement of appellant under Section 50 of the Act. Even, the Adjudicating Authority failed to considered the reply filed by the appellant where the full details were disclosed. However, both ED and Adjudicating Authority chose not to discuss the main issue. 22. The impugned order is completely silent and has been passed without even considering the documents and explanation provided by the appellants by way of reply and compilation as filed before the Adjudicating Authority. 23. Prima facie, the provisional attachment order as well as the impugned order is an arbitrary order pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oncerned, we have not expressed any opinion. The fresh final order be passed by the Adjudicating Authority after discussing all legal issues raised by the parties. 28. No costs. Sd/- (Justice Manmohan Singh) Chairman Sd/- (Anand Kishor) Member New Delhi 13th December 2017. In view of the matter thus being remanded to the Adjudicating Authority, who is still seized of the matter, we direct that the Undertaking given by the parties in the connected Appeals to maintain the Status-quo about the property shall continue till the Adjudicating Authority decides the matter again in pursuance of the said remand directions in the order dated 13.12.2017 passed by the learned Tribunal. With these o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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