ORDER :

Petitioners are knocking at the doors of Writ Court for laying a challenge to the proceedings taken up under the provisions of Prevention of Money Laundering Act, 2002 ('Act' for short) and to the Provisional Attachment Order dated 28.9.2021 made by the respondent at Annexure-A; after service of notice, the respondent having entered appearance through his Senior Panel Counsel, opposes the Writ Petition making submission in justification of the impugned order.

2. Brief facts:

(a) The Anti Corruption Bureau, Srinagar, Jammu & Kashmir, registered Crime No.17/2019 on 6.8.2019 against the petitioners for the offences punishable u/ss 5(1)(d) r/w section 5(2) of Jammu & Kashmir Prevention of Corruption Act, 2006 r/w section 120B of the Ranbir Penal Code, 1989 (hereafter ‘1989 Code’); the essential allegation is that during the period between 2002 and 2017, a company by name M/s S.A.Rawther Spices Pvt. Ltd, had obtained financial assistance, in all amounting to Rs.308.13 crore from the J&K Bank, Bangalore; the loan account became NPA during September 2017 and the net amount that remained un-repaid was quantified at Rs.285.81 crore plus unapplied interest of Rs.66.91 crore.

(b) In or ar