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IN THE HIGH COURT OF DELHI
Sanjeev Sachdeva, Rajnish Bhatnagar, JJ.
Punjab National Bank - Appellant
Versus
Directorate of Enforcement - Respondent
Misc. Appeal (PMLA) 5 of 2022
Decided On : 28-11-2022
Important Points
Subject
Financial Regulation - Prevention of Money Laundering
Headnote
(B) Tribunal proceedings - The court clarifies that it does not express any opinion on the merits of the case at this stage.
Facts of the case:
The appellant contends that the interim orders adversely affect their lawful financial recovery, particularly following procedural issues related to the Tribunal's coram.
Findings of Court:
The court orders an expeditious hearing by the Tribunal and emphasizes that there has been no comment on the merits of the case.
Issues: The main issues addressed pertain to the validity and impact of interim orders on financial recovery and procedural delays.
Ratio Decidendi: The court emphasizes the importance of timely consideration by the Tribunal and maintains that no merits have been adjudicated at this point.
Result: Appeal disposed of with directions.
| Table of Content |
|---|
| 1. identification of parties and appeal details (Para 1) |
| 2. appellant's arguments regarding interim orders (Para 2) |
| 3. court's request for expeditious consideration (Para 3) |
JUDGMENT
Sanjeev Sachdeva, J. (Oral)--Appellant impugns order dated 17.08.2022, 12.02.2021, 21.05.2021 and 06.09.2021.
2. Learned counsel for appellant submits that there are interim orders operating against the appellant, thereby causing prejudice to the appellant in recovery of their lawful dues. She submits that on 06.09.2021, the matter was deleted from the board of the Tribunal as the coram was not constituted.
3. We notice that the Tribunal's coram has now been constituted. Accordingly, we dispose of this appeal with a request to the Tribunal to consider the case of the appellant expeditiously. It is clarified that this Court has neither considered nor commented on the merits of the contentions of either party. All rights and contentions of the parties are reserved.
