ORDER

30.05.2025

By this batch of four appeals, a challenge has been made to the order dated 25.08.2022 passed by the Adjudicating Authority confirming the Provisional Attachment Order dated 11.02.2022.

Brief facts of the case:

2. It is a case where a number of FIRs were registered for the offence under Section 120 (B), 420, 467, 468, 471, 472 and 472 of the Indian Penal Code, 1860 and Section 13 (2) read with Section 13 (1)(d) of the Prevention of Corruption Act, 1988 . It was in regard to Syndicate Bank scam where not only the main accused, Shri Bharat Bomb but officials of the Bank were involved. The total amount involved therein was quantified to Rs. 1265.78 crores.

3. The respondent recorded the ECIR and attached the properties of many persons finding it to be the proceeds of crime. The present appeal would, however, address the issue in reference to the four appellants leaving others because separate appeals have been maintained by the different defendants before the Adjudicating Authority. The appellant, Shri Vikas Jain apart from Smt. Sushila Jain and two Companies have preferred the appeals against whom following allegations were made: Shri Vikas Jain was found beneficiary of