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TMI Blog2023 (9) TMI 1479X X X X Extracts X X X X X X X X Extracts X X X X ..... RCEMENT DIRECTORATE HYDERABAD VERSUS SMT. Y.S. BHARATHI REDDY [ 2022 (11) TMI 1488 - TELANGANA HIGH COURT] , passed by the High Court for the State of Telangana at Hyderabad on an application being moved for release of the properties of equivalent valued allowed the same. It is to be noted that there is a difference between proceeds of crime and amount equivalent to proceeds of crime . In case of attachment of proceeds of crime, the Court may not agree to the request for substitution of the attached property, but in case of attachment being on account of equivalent value of proceeds of crime, the Court may allow substitution of such attached property. It would be in the interest of justice if the properties of Respondent No. 16 and 17 are r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 21.03.2018 vide which an order was passed for maintaining the status quo regarding the release of the attached property by this Court. 2. The order dated 21.03.2018 reads as under: 1. On taking steps, issue notice to the respondents by all the permissible modes, returnable on 25 May, 2018. 2. Response shall be filed within four weeks. 3. Rejoinder (if any) shall be filed within two weeks thereafter. 4. Trial Court record be requisitioned along with e-record. Crl.M.A.5313/2018 (Stay) 1. On taking steps, issue notice to the respondents by all the permissible modes, returnable on 25 May, 2018. 2. Response (if any) shall be filed before the next date of hearing. 3. Renotify on 25th May, 2018. 4. Relying upon the order dated 23.11.2015 in SLP ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , learned counsel for the petitioner submits that though his request that he will furnish the bank guarantee if the properties are released. 6. Sh. Zoheb Hossain, learned Special counsel for E.D. has vehemently opposed the same. Learned special counsel submitted that since the order dated 23.11.2020, there has been no change in the circumstances. It has been submitted that the Supreme Court in State of Uttar Pradesh Ors. v. Harirender Pal Singh Ors. (2011) 5 SCC 305, has inter-alia discouraged the practice of deviating from the interim order except in the case of change of circumstances. Sh. Zoheb Hossain learned Special counsel for E.D. has also referred to sub Rule (5) of Rule 5 of the Prevention of Money Laundering (PMLA) (taking possess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge whereby the judgment of acquittal was recorded. This Court is hearing on a day-to-day basis CRL.L.P. 185/2018 and CRL.L.P. 257/2018. The CRL L.P 184/2018 of the Directorate of Enforcement shall only be taken up after the CRL.L.P. 185/2018 and CRL.L.P. 257/2018 of CBI are disposed of. 11. The properties mentioned above of respondents No.16 and 17 are in the form of land and buildings. It has been submitted that even maintenance charges, the energy bill, and property tax have also not been paid. The properties seized must also be deteriorating as being lying unused. The applicant in this case have offered to substitute thus attached properties as referred above with the bank guarantee of an equivalent amount. It is not the case of the ED t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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