Prakash Industries Limited vs Union Of India

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(Del) 348

YASHWANT VARMA
Prakash Industries Limited – Appellant
Versus
Union Of India – Respondent

Advocates:
Advocate Appeared:
For the Petitioner: Mr. Ankur Chawla, Mr. Gurpreet Singh, Mr. C.B. Bansal, Mr. Amir Khan, Mr. Shivam Tandon and Mr. Aamir Khan and Ms. Prerna Mahajan, Advs.
For the Respondent: Mr. Zoheb Hossain and Mr. Vivek Gurnani, Advs. with Mr. Santokh Singh, DD and Ms. Kumud Ranjan, EO for ED.

JUDGMENT :

A.	PROLOGUE	Paras 1 - 14
B.	PRELIMINARY OBJECTIONS	Paras 15 - 25
C.	PETITIONER’S ARGUMENTS	Paras 26 - 35
D.	E.D.’s CONTENTIONS	Paras 36 - 42
E.	UNDERPINNINGS OF THE PAO	Paras 43 - 56
F.	SCOPE OF SECTIONS 3 AND 5	Paras 57 - 81
G.	POWERS ENTRUSTED WITH THE E.D.	Paras 82 - 86
H.	SECTION 66(2) AND ITS RAMIFICATIONS	Paras 87 - 93
I.	PERIPHERAL ISSUES	Paras 94 - 105
J.	THE SECTION 8(3)(a) ARGUMENT	Paras 106 - 108
K.	CONCLUSION	Para 109

A. PROLOGUE

1. These two writ petitions raise an important question relating to the powers of the Enforcement Directorate, ED to provisionally attach properties under Section 5 of the Prevention of Money Laundering Act, 2002, The Act, even though no proceedings relating to the predicate offence may have been initiated by the competent agency functioning under an independent statute and in terms of which the scheduled offence stands

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2023 Supreme(Del) 348

YASHWANT VARMAPrakash Industries Limited – AppellantVersusUnion Of India – Respondent

Cases Referred (10)

YASHWANT VARMA
Prakash Industries Limited – Appellant
Versus
Union Of India – Respondent