Back
UJJAL BHUYAN, SUREPALLI NANDA
VANPIC Ports Private Limited – Appellant
Versus
Directorate of Enforcement, Rep. by Assistant Director, Hyderabad – Respondent
JUDGMENT:
UJJAL BHUYAN, J.
Heard Mr. Atul Nanda, learned Senior Counsel for Mr. Tarun G. Reddy, learned counsel for the appellant and Mr. T. Surya Karan Reddy, learned Additional Solicitor General of India for Mr. Anil Prasad Tiwari, learned standing counsel, Enforcement Directorate for the respondent.
2. This is an appeal under Section 42 of the Prevention of Money Laundering Act, 2002 assailing the order dated 26.07.2019 passed by the Appellate Tribunal for Prevention of Money Laundering Act at New Delhi (briefly, ‘the Appellate Tribunal’ hereinafter) in FPA-PMLA-751/DLI/2014 to the limited extent of continuation of attachment of the property of the appellant. A consequential prayer has been made by the appellant for a direction to the respondent to release the said property from attachment.
Facts:
3. Appellant is a company and is a Special Purpose Vehicle for implementation of the Vodarevu and Nizampatnam Ports and Industrial Corridor Project, also known as VANPIC Project. VANPIC Project is a Government to Government project conceptualised by virtue of an arrangement between Gove
The court upheld the necessity of exhausting statutory remedies under the Prevention of Money Laundering Act before invoking writ jurisdiction, affirming that 'proceeds of crime' includes property in....
Point of law: Provisional attachment - Adjudicating Authority does not become functus officio on expiry of the period of 180 days from the passing of the order of provisional attachment unless such o....
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.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
