Shri Hitesh S. Patel Mr. Dinesh Patel Mrs. Pushpa D. Patel Mrs. Jaya Mala Patel Mr. Hirubhai S. Patel Mrs. Reena H. Patel Mr. Shivgan K. Patel M/s. K S Patel & Sons M/s. Patel & Company M/s. Patidar Wood Works Mr. Hasmukh Patel M/s. Global Trading Company M/s. Surya Timber Traders M/s. Balaji Associates M/s. Surya Agencies M/s. Karpagavinayaga & Co. M/s. Vasani Wood Works M/s. Patel Enterprises M/s. Tim Exim India M/s. Vee Bee Holdings Union Bank of India vs The Deputy Director Directorate of Enforcement Chennai

2025 Supreme(Online)(ATFP) 301

APPELLATE TRIBUNAL FOR FORFEITED PROPERTY
Shri Hitesh S. Patel Mr. Dinesh Patel Mrs. Pushpa D. Patel Mrs. Jaya Mala Patel Mr. Hirubhai S. Patel Mrs. Reena H. Patel Mr. Shivgan K. Patel M/s. K S Patel & Sons M/s. Patel & Company M/s. Patidar Wood Works Mr. Hasmukh Patel M/s. Global Trading Company M/s. Surya Timber Traders M/s. Balaji Associates M/s. Surya Agencies M/s. Karpagavinayaga & Co. M/s. Vasani Wood Works M/s. Patel Enterprises M/s. Tim Exim India M/s. Vee Bee Holdings Union Bank of India – Appellant
Versus
The Deputy Director Directorate of Enforcement Chennai – Respondent

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

_ P Timber Traders (10- 04-2018) ______ atidar Wood Works (10-04- 2018)

( (107.65 acres) at S.F.nos.316/1C, 319/2, 303, 319/1, 335/1, 298, 299/4,3, 1,297/1, 3,274/2,3,15,247/3, 274/1,311/2, 424/2A, 294/1,4,242/3, 342/1, 299/3, 305/1, 319/3, 320/2, 325/1, 304/1, 305/1, 271/4,272/2, 271/1A,304/2A, 30

ORDER

28.04.2025 FPA-PMLA-4571,4654/CHN/2022, FPA-PMLA-5885-5891&6483-6495/CHN/2023

The batch of appeals have been filed under Section 26 of the Prevention of Money Laundering Act, 2002 (in short ‘the Act of 2002‟) to challenge the order dated 08.02.2022 passed by the Adjudicating Authority confirming the Provisional Attachment Order (PAO) No. 02/2023 dated 08.06.2021. The following properties of the appellants other than of Union Bank of India were attached by the respondents:

Sl. No.	Name of the Borrower	Properties offered as Securities	As on sanction date	Board Approved Valuation1	Board Approved Valuation2	Average Valuation
1.	M/s Balaji Associates (27- 03.2018)	Punjai land 48.595 acres At S.Nos. 270/1 443/2,446/1,435/1 299/1,425,424/2B,426 Sithalakattai Village, Ottapidaram Taluk, Tuticorin DT., owned by M/s Vee Bee Holdings	31.58	1.21	1 .31	1 .26
2.	Surya	Comm.-cum-industrial land	39.80	2.43	2.39	2.41

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