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PREM NARAYAN SINGH
Directorate of Enforcement Through Assistant Director Bhopal Zonal Office – Appellant
Versus
Vinod Bhandari 181, Textile Clerk Colony Pardesipura – Respondent
ORDER
Prem Narayan Singh, J. - The petitioner has preferred this revision being crestfallen by the order dated 13.06.2023 passed by Special Judge (PMLA), Indore in S.C./1924/2018, whereby the learned Special Court allowed the applications of applicants' for releasing of property in lieu of fixed deposit.
2. Succinctly, the facts of the case are that the Adjudicating Officer of Enforcement Department has attached the property of applicants amounting to the value of Rs.8,93,50,085/- which is owned by the applicants. The applicant Dr. Manjushree Bhandari has filed an appeal against the order of Adjudicating Officer in Appellate Tribunal. In this regard, a Writ Petition No. 17581/2020 was also filed before the Division Bench of this Court. This writ petition was disposed of as withdrawn with liberty to pursue such remedies as available in law. Under these circumstances, the applicants had filed their applications for returning the properties mentioned in their applications in lieu of fixed deposit.
3. Learned Special Court (PMLA), Indore after considering the contents of applications and analyzing the provisions of Prevention of Money Laundering Act, 2002 (hereinafter referred to as 'PMLA
The impugned order was passed without proper appreciation of the provisions of PMLA, 2002 and PMLA Rule, 2016, and was set aside.
The court emphasized the availability of an alternate efficacious remedy within the scope of the PMLA Act and upheld the decision to relegate the Appellant/Bank to the Adjudicating Authority.
(1) Attachment and confiscation of property – Special Court cannot go into issues which higher forums have been entrusted with.(2) Section 8(7) and Section 8(8) of PMLA are stand-alone provisions – S....
The court established that taking possession under Section 8(4) of the PMLA requires a formal confiscation order and cannot be done arbitrarily.
Restoration of assets under the PMLA requires adherence to procedural mandates, specifically necessitating completion of charge framing before claims can be approved.
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