1. In exercise of power vested by Section 5(1) of Prevention of Money Laundering Act, 2002 ( Act 15 of 2010), (for short ‘the Act’), the Joint Director, Directorate of Enforcement, Ministry of Finance, Government of India, passed order of provisional attachment of the properties mentioned in para-29 of the order. One of the properties attached is 73,99,99,994 shares of Rs.2/-each of M/s. Nava Bharat Energy India Limited (NBEIL) for value of Rs.147,99,99,988/-. The order of provisional attachment is assailed in this writ petition by the Nava Bharat Projects Limited, Nava Bharat Energy India Limited and Sri P.Trivikrama Prasad, Director on Board of Nava Bharat Projects Limited and Nava Bharat Energy India Limited.

2. Nava Bharat Power Private Limited (NPPL) was promoted by Sri P.Trivikrama Prasad and Sri Y.Harichandra Prasad with equal shares. To achieve primary objective to generate power, the company entered into power purchase agreement with Power Trading Corporation (PTC) in January, 2006 and entered into memorandum of understanding with Government of Odisha. The Government of Odisha promised to provide 42 cusecs of water from river Brahmani. NPPL promised to supply 25