R.M.T. TEEKAA RAMAN, J.

1. This Criminal Revision Case is filed by the petitioner/second accused challenging the order dated 20.04.2018 passed by the learned Principal Sessions Judge, City Civil Court, Chennai, Special Court constituted under Section 43(1) of the Prevention of Money Laundering Act, 2002 [hereinafter referred to as "PML Act"] in taking cognizance of the offence in C.C. No. 4 of 2018 in ECIR No. CEZO/08/2014.

2. By the adjudication order dated 20.04.2018, the learned Principal Sessions Judge, City Civil Court, Special Court designated for trying the offence of PML Act, Chennai, has taken cognizance of the offence in ECIR/CEZO/08/2014 and also taken the case as C.C. No. 4 of 2018 and adjourned the matter to 23.04.2018 and on that date, the learned Principal Sessions Judge, ordered for issuance of summons to A.3 to A.7, since A.2 was already remanded to judicial custody. Challenging the said order of cognizance taken by the learned Principal Sessions Judge, the petitioner herein/second accused has preferred this criminal revision case before this Court.

3. The brief facts leading to filing of the above C.C. No. 4 of 2018 are hereunder:-

[i] The first accused is M/s. Subhiksha Trading Services Limited in which, the revision petitioner namely, R. Subramanian is the Managing Director and arrayed as second accused and accused Nos. 3 to 5 are alleged to be the Directors of M/s. Triad Trading Services Private Limited and accused Nos. 6 and 7 are the Directors of M/s. Custodial Services India Private Limited.

[ii] The respondent herein/complainant is the Assistant Director, Directorate of Enforcement, Chennai. The complainant, who is a public servant, is authorized to file this complaint under Section 45(1) of the PML Act. The case of the respondent herein/complainant is that the Economic Offence Wing, Chennai, had registered a criminal case in FIR No. 05/2013 dated 21.10.2013 for the offences committed under Sections 406, 420 and 120-B of IPC r/w. Section 5 of TNPID Act against the revision petitioner for non-refund of deposit money and interest approximately around Rs. 150 Crores to the depositors by M/s. Vishwapriya Financial Services Limited wherein, the revision petitioner was the Managing Director. He was arrested by the Economic Offences Wing (EOW), Chennai, on 19.09.2015. The case is under final stage of investigation by Economic Offences Wing, Chennai.

[iii] In addition to the above EOW case, the Central Bureau of Investigation, BS & FS, Bangalore, has registered an FIR in RCA (E)/2013 on 26.07.2013 for the alleged commission of offences under Sections 120-B r/w. 420 IPC 1860 and Sections 13(2) r/w. 13(1) (d) of the Prevention of Corruption Act, 1988 for Bank Fraud. After due investigation, the CBI has filed Charge Sheet No. 9635/2014 dated 13.08.2014 which has been taken on file in the above said calendar case.

[iv] As per the Charge Sheet filed by the CBI, since the offence under Section 420 of IPC is a scheduled offence by virtue of Section 2(1)(x) & (y) of the PML Act, and as there was a prima facie case for offence of money laundering under Section 3 of the PML Act, the Directorate of Enforcement, recorded an Enforcement Case Information Report No. 8/2014 dated 26.09.2014 against the revision petitioner herein and others and initiated investigations under PML Act, and arrested the revision petitioner herein. In the statement recorded under Section 50(2) & (3) of PML Act, in the presence of jail authorities, the revision petitioner has stated about the various loan facilities availed by him from various banks for establishing Subhiksha Chain of Stores and ECIR details etc. However, he has not revealed the whereabouts of the proceeds of crime which involved in money laundering.

[v] The proceeds of crime involved as per the CBI Charge Sheet is Rs. 77 Crores and the Directorate of Enforcement has attached the proceeds of crime for the value of only Rs. 9.47 Crores so far. The investigation under PML Act revealed