JUDGMENT

Prathiba M. Singh, J. - This hearing has been done through hybrid mode (physical and virtual hearing).

CM APPL. 4434/2021 (for exemption)

2. Allowed, subject to all just exceptions. Application is disposed of.

W.P.(C) 1547/2021 & CM APPL. 4433/2021 (for stay of the provisional attachment order)

3. The Union Bank of India has approached this Court challenging the provisional attachment order dated 15th October, 2020 passed by the PMLA Adjudicating Authority i.e., Deputy Director, Directorate of Enforcement, under the provisions of Prevention of Money Laundering Act, 2002 (hereinafter referred as "PML Act").

4. The case of the Petitioner, Union Bank of India E Andhra Bank (hereinafter, "Bank"), is that the account of the Respondent No.4 M/s. Deccan Chronicles Holding Limited, was declared as a Non-Performing Asset ("NPA") on 31st December 2012. Thereafter, proceedings were initiated before the Debt Recovery Tribunal by the Petitioner against Respondent No. 4 and a recovery certificate was issued in its favour by the DRT. Further, action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (hereafter referred as "SARFAES