2021 (4) TMI 1325

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..... - contention of the petitioner as sought to apply the provisions of the Prohibition of Benami Property Transactions Act, 1988 as amended in 2016 to transactions which took place much prior there to in 2013, and such action in giving retrospective affect to provisions which have penal consequences (such as Section 24 introduced by 2016 amendment) is contrary to Article 20(1) of the Constitution of .....

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..... THE HONOURABLE SRI JUSTICE M.S. RAMACHANDRA RAO AND THE HONOURABLE SRI JUSTICE T. VINOD KUMAR For the Petitioner : Sri Y SREENIVASA REDDY For the Respondent Nos. 1 & 2 : Sri B NARASIMHA SARMA For the Respondent No. 5 : Sri N. Rajeshwar Rao, Asst. Sol. Gen. ORDER: It is the contention of the petitioner in the Writ Petition that in the impugned order passed by the 'lst respondent, he has so .....

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..... impugned order travels way beyond the allegations contained in the show-cause notice dt.30.12.2019 and in particular, it is pointed out that in the show-cause what was proposed to be attached was only movable property of 4,50,000 shares of the 4th respondent-Company along with an equivalent amount of proceeds thereof in the corresponding current and noncurrent assets including debtors acquired as .....

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