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PRATHIBA M. SINGH
Frost International Ltd. – Appellant
Versus
Directorate of Enforcement – Respondent
JUDGMENT
Prathiba M. Singh, J. (Oral)--This hearing has been done through hybrid mode.
2. The present petition has been filed challenging the impugned judgment dated 28th February 2022 passed by the Adjudicating Authority in Original Complaint No. 1503 of 2021 and the impugned Provisional Attachment Order No. 09 of 2021 (hereinafter `PAO') dated 28th June, 2021 whereby certain assets of the Petitioners have been attached under Section 8 of the Prevention of Money Laundering Act, 2002 (hereinafter `PMLA'). The details of the properties are as under-
| Sr. No. | Property Holder | Description of Property | Value in Rs.(in Crores) |
| 1. | M/s Frost International Limited | 402, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur | 0.90 |
| 2. | M/s Frost International Limited | Half office accommodation no.403, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur | 0.41 |
| 3. | M/s Frost International Limited | Half office accommodation no.403, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur | 0.41 |
| 4. | M/s Frost International Limited (earlier known as Meta Cam) | 410, Kalpana Plaza, 24/147 B, Birhana Road, Kanpur | 0.33 |
| 5. | M/s Frost International Limited | 411, Kalpana Plaza, 24/147-B, Birhana Road, Kanpur | 0.29 |
| 6. | M/s. R.S. Builders Pvt. Ltd. | One Part of 114/107, Lakhan | |
The Court considered the applicability of the Insolvency and Bankruptcy Code, 2016 (IBC) and the effect of its declaration of moratorium on the attachment of assets under the Prevention of Money Laun....
The central legal point established in the judgment is the need for comprehensive consideration of the issue by the Appellate Tribunal under the PMLA Act and the implications of the establishment of ....
The maintainability of a petition challenging impugned orders under the Prevention of Money Laundering Act (PMLA) when the same orders had already been dealt with in a previous order, and the petitio....
The main legal principle established is that properties to be proceeded against under PMLA must be connected to the criminal activity, and ex facie illegal acts can be interfered with under Article 2....
The court emphasizes that when statutory remedies are available, the extraordinary jurisdiction under Article 226 of the Constitution should not be exercised unless there are exceptional reasons to d....
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