2024 (10) TMI 388

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..... the copies of all relied upon documents/seized material and he has right to apply for release of all un-relied documents (if any), if the same are not required for any further investigation. The present appeal is hereby dismissed.
G.C. MISHRA AND RAJESH MALHOTRA, MEMBER For the Appellant : Saurabh Kapoor, Rishabh Kapoor and Ms. Madhvi Khandelwal, Advs. For the Respondent : Arjun Sawhney and Rohan Bhambri, Advs. ORDER 1. Present appeal u/s 26 of the Prevention of Money Laundering Act, 2002, is filed by the appellant against the impugned order dated 12.09.2017 passed by the Adjudicating Authority in Original Application No. 93/2017, whereby it allowed the respondent ED to retain/seize/freeze the documents, digital records, bank accou .....

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..... performed active role in M/s Dream Height Homes Pvt. Ltd. and the appellant is a sleeping Director of the company. He further stated that the appellant had no direct or indirect nexus or relationship with any tainted asset or money in any manner, whatsoever and has never acted as agent of any person or business entity which are under investigation in the present proceedings. The implication of the appellant in the criminal case is without any factual basis and predominantly on the basis of untenable assumptions and conjectures. Prayer is accordingly made to allow the present appeal and thereby direct the respondent ED to release the above bank accounts and documents. 3. On the other hand, Ld. Counsel for respondent ED submitted that certai .....

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..... 13 Dec 2016 6 25.01.2016 284/MISCIN/04/16 Vision Procon Colour Wave (HK) Ltd PNB, Dubai 3,374,865 09 Jan 2017 7 25.01.2016 284/MISCIN/05/16 Vision Procon Colour Wave (HK) Ltd PNB, Dubai 3,452,143 16 Jan 2017 8 05.02.2016 284/MISCIN/07/16 Vision Procon Colour Wave (HK) Ltd PNB, Dubai 3,135,460 28 Jan 2017 Accordingly, he submitted that plea of appellant that he was sleeping director in M/s Dream Heights is of no significance, as in pursuance to conspiracy he defrauded Indian Overseas Bank as mentioned above. In view of the above, Ld. Counsel for respondent submitted that the various documents, properties, bank account, cash and lockers including foreign currency etc. were seized. The same are likely to be involved i .....

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