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TMI Blog2023 (5) TMI 1196X X X X Extracts X X X X X X X X Extracts X X X X ..... in the writ petition appears to be just and reasonable. The writ petition is allowed-in-part granting alternative relief sought by the petitioner. The respondent is directed to release the attached property No.4 i.e. Ac.6-00 situated at Survey No.376/2, Alamur Village, Ananthapur, subject to the petitioner furnishing security in the form of a fixed deposit for Rs.10,00,000/-. - Writ Petition No. 12099 of 2023 - - - Dated:- 11-5-2023 - Hon ble Sri Justice Ravi Cheemalapati For the Petitioner : Duvva Pavan Kumar For the Respondent : Josyula Bhaskara Rao (SC FOR ED) ORDER: This Writ Petition has been filed to set aside - the Provisional Attachment order No.4 of 2023 dated 14.03.2023 to the extent of attachment of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tain even a single mention of the petitioner, leave about recording a reason to believe that he had committed the offence. 3. Heard Sri N. Subbba Rao, learned senior counsel, for Sri Duvva Pavan Kumar, learned counsel for the petitioner, and Sri Josyula Bhaskar Rao, learned Standing counsel for Enforcement Directorate. 4. The learned senior counsel for the petitioner, during the course of arguments, has confined his submissions to the alternative relief claimed in the writ petition. 5. The learned counsel for the petitioner would submit that the petitioner along with Ankireddy Janardhana Reddy jointly purchased item No.4 of the attached property and after obtaining required approval for conversion of the property from agricultural ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Appellate Tribunal is further appealable before the Hon ble High Court under Section 42 of the PML Act. The petitioner instead of availing the alternative efficacious remedy has straight away filed the writ petition. Further, the petitioner failed to establish infringement or violation of any fundamental rights. Hence, the writ petition is not maintainable. The learned standing counsel would further submit that, the Provisional Attachment Order issued by the Competent Authority vividly delineates the reasons to believe that the petitioner is in possession of proceeds of crime and such proceeds are likely to be concealed or tampered with to frustrate any proceedings as required under Section 5 and 8(1) of the PML Act. There is ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... form of land, building, house, flat etc and is under joint ownership, the authorized officer may accept the equivalent value of fixed deposit to the extent of the value of the share of the concerned person in the property estimated by the authorized officer to be involved in money laundering . Therefore, it would not be correct to say that PMLA as well as the Rules framed thereunder does not have any provision for accepting alternative equivalent value of attached property. 11. In the instant case, it is the specific contention of the petitioner that the property was purchased by him along with another person and thereafter the said property was converted into plots and so many plots was purchased by the third parties. Thus, it is evi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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