The petitioner bank has filed this writ petition challenging the provisional attachment order dated 07.12.2015 issued by the first respondent by which the first respondent provisionally attached the sum of Rs.1.71 crore which is available with the petitioner bank for a period of 180 days in terms of Section 5 (1) of The Prevention of Money Laundering Act, 2002 (hereinafter referred to as The Act).

2. For disposal of this writ petition, certain facts which are necessary and germane are stated hereunder:-

(i) The petitioner bank -Indian Overseas Bank is a body corporate incorporated under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and it is transacting in banking business through its various branches spread across the country and also abroad. During the course of its business, one M/s. Dinakar Trading Company has availed certain credit limits from the Broadway Branch of the petitioner bank by creating equitable mortgage in respect of the property situated at No.53, First Floor, Ganesh Bhavan, Greenways Road, Perumalpuram, Chennai -600 028. As the said M/s.Dinakar Trading company has committed default in payment of the loan amount, the petitioner b