2023 Supreme(Del) 952

IN THE HIGH COURT OF DELHI AT NEW DELHI
Prathiba M. Singh, J.
Axis Bank – Appellant
Versus
Union of India & Anr. – Respondents
W.P.(C) 12552 of 2022 & CM APPL.38013 of 2022
Decided On : 22-03-2023

The court's decision was primarily based on the provisions of the Prevention of Money Laundering Act, 2002 (PMLA, 2002), specifically regarding the appellate remedy, exclusion of pendency period for calculating limitation, and continuation of interim orders.

Headnote:

PMLA, 2002 - Appellate Remedy - The court disposed of the petition, allowing the petitioner to avail of its appellate remedy within 30 days and excluded the period of pendency before the court for the purpose of calculating the limitation under Sections 5 & 8 of PMLA, 2002. The interim order passed was to continue till the first date of listing before the Appellate Tribunal. The court clarified that it had not examined the merits of the case, leaving all contentions of the parties open.

Fact of the Case:

The petition challenged the final order confirming the Provisional Attachment Order, with the petitioner seeking to avail of its appellate remedy by filing an appeal before the Appellate Tribunal under PMLA, 2002.

Finding of the Court:

The court disposed of the petition, allowing the petitioner to avail of its appellate remedy within 30 days and excluded the period of pendency before the court for the purpose of calculating the limitation under Sections 5 & 8 of PMLA, 2002. The interim order passed was to continue till the first date of listing before the Appellate Tribunal. The court clarified that it had not examined the merits of the case, leaving all contentions of the parties open.

Issues: Challenge to final order confirming Provisional Attachment Order, appellate remedy under PMLA, 2002, exclusion of pendency period for calculating limitation, continuation of interim order, examination of case merits.

Ratio Decidendi: The court allowed the petitioner to avail of its appellate remedy within 30 days and excluded the period of pendency before the court for the purpose of calculating the limitation under Sections 5 & 8 of PMLA, 2002. The interim order passed was to continue till the first date of listing before the Appellate Tribunal. The court clarified that it had not examined the merits of the case, leaving all contentions of the parties open.

Final Decision: The petition along with all pending applications was disposed of, allowing the petitioner to avail of its appellate remedy within 30 days and excluding the period of pendency before the court for the purpose of calculating the limitation under Sections 5 & 8 of PMLA, 2002. The interim order passed was to continue till the first date of listing before the Appellate Tribunal. The court clarified that it had not examined the merits of the case, leaving all contentions of the parties open.