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TMI Blog2024 (10) TMI 226X X X X Extracts X X X X X X X X Extracts X X X X ..... MP-PMLA-6695/CHD/2019 (Stay) FPA-PMLA-3356/CHD/2019 MP-PMLA-6695/CHD/2020 (Misc.) MP-PMLA-6700/CHD/2019 (Misc.) MP-PMLA-6799/CHD/2019 (Exem.) FPA-PMLA-3357/CHD/2019 MP-PMLA-6996/CHD/2020 (Misc.) MP-PMLA-6704/CHD/2019 (Stay) FPA-PMLA-3358/CHD/2019 MP-PMLA-6710/CHD/2019 (Misc.) MP-PMLA-6707/CHD/2019 (Stay) FPA-PMLA-3359/CHD/2019 JUSTICE MUNISHWAR NATH BHANDARI: CHAIRMAN And SHRI BALESH KUMAR : MEMBER For the Appellants :Shri Arshdeep Singh Khurana, Shri Sulakshan S.V., Shri Nikhil Pawar, Shri R.K. Mohit Gupta, Shri Ankur Chawla, Advocates For the Respondent : Shri Aditya Singla, Advocate ORDER FPA-PMLA-3352,53,55-59/CHD/2019 By this appeal under Section 26 of the Prevention of Money Laundering Act, 2002 (in short `the Act of 2002'), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lved in the offence of money laundering. Reference of the judgment of Bombay High Court in the case of Om Prakash Daulat Ram Nagoja vs.Atul Verma & Or s. reported in MANU/MH/2362/2011 was given to support the argument. The prayer was accordingly made to dismiss the appeal. 4.We have considered the rival submissions and perused the record carefully. 5.It is a case where an FIR was registered for the offence under Section 7,8 and 10 of the PC Act along with Section 120-B IPC. It is not in dispute that a sum of Rs.89,68,000/- was seized by the CBI and the amount now remains under seizure pursuant to the order of the CBI Court. In those circumstances, it could not be clarified by the respondent as to whether there were likely of transfer or a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Provided further that, notwithstanding anything contained in [first proviso], any property of any person may be attached under this section if the Director or any other officer not below the rank of Deputy Director authorised by him for the purposes of this section has reason to believe (the reasons for such belief to be recorded in writing), on the basis of material in his possession, that if such property involved in money-laundering is not attached immediately under this Chapter, the non-attachment of the property is likely to frustrate any proceeding under this Act. Provided also that for the purposes of computing the period of one hundred and eighty days, the period during which the proceeding under this section is stayed by the Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (b) of sub-Section (1) of Section 5. In the instant case, the respondents have failed to show any likelihood of concealment or transfer of the properties to frustrate the proceeding of confiscation rather the property in question was attached by the Special Court much prior to the order for provisional attachment. The Special Court attached the properties by its order dated 19.03.2015 thus there was no likelihood of transfer or concealment of the property. Ignoring the requirement and mandate of Section 5(1) of the Act of 2002, the order of provisional attachment was passed. It is no doubt that the provisions of the Act of 2002 are having over riding effect to other legislation in case of conflict but in this case, we do not find any confl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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