BEFORE RAJESH MALHOTRA, MEMBER; SINGLE BENCH:

APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI FPA-PMLA-2828/JP/2019 ICICI Home Finance Company Ltd. … Appellant Versus The Deputy Director, Directorate of Enforcement, Jaipur … Respondent Advocates/Authorized Representatives who appeared For the Appellant : Mr. VignarajPosayet, Adv.

Ms. Sanjivani Patjoshji, Adv.

For the Respondent : Mr. N.K. Matta, SPP Mr. Aaditya Raj Sharma, Adv.

FINAL ORDER

08.07.2024 Present appeal under Section 26 of Prevention of Money Laundering Act is filed by appellant against the order dated 09.11.2018 passed by the Learned Adjudicating Authority in OC No. 984/2018 vide which Provisional Attachment Order bearing No. 02/2018 dated 16.05.2018 for attachment of the properties was confirmed, including the properties mortgaged with the appellant and detailed as under: -

Vila No. 40, Parth City, Kalwar Road, Jaipur registered in the name of Mehandra Meghwal, Mortgagor.

2. As per the facts of the case, CBI registered FIR No. RC- PD1/2016/E/2002 dated 07.03.2016 on 14.06.2016 for commission of offences under Section 120B, 409,420,467,468 & 471 of IPC and also under Section 13(2) read with Section 13(1) (c) & (d) of PC Act, 1988. After investigation police filed the charge- sheet against the accused persons, namely, Bharat Bomb, Shankar Khandelwal, Vipul Kaushik, Santosh Kumar Gupta (Branch Manager Syndicate Bank, Udaipur), Usha Gupta and the investigation is stated to be pending against the remaining accused persons. As per the facts of the case, during the period from 2011 to 2016, the bank officials of three branches of Syndicate Bank at Malviya Nagar Branch, Jaipur; M.I Road Branch, Jaipur; and Bapu Nagar Branch, Udaipur, in collusion with the group of customers, by way ofinterlinked fraudulent transactions by resorting to discounting of forged tax; discounting of forged in-land bills and billing of OD facility against non-existent LIC policies, caused the bank, with deliberate and fraudulent intention to a huge loss to the tune of Rs.1055 crores by siphoning of the funds of the bank for illegal personal gains.

The mastermind of the whole fraud is a Chartered Accountant name Bharat Bomb, Shanker Khandelwal, and Piyush Jain along with the bank officials.

Over 386 bank accounts were opened by the suspects in three branches of Syndicate Bank Malviya Nagar Branch, Jaipur; M.I Road Branch, Jaipur; and Bapu Nagar Branch, Udaipur without requisite KYC documents and by using identification documents of genuine account holders in other banks with the nexus of bank officials for diverting the bank funds to the tune of Rs.1055.79 Crores.

Directorate of Enforcement, Jaipur Zonal Office, Jaipur, initiated investigation for offence of money laundering after recording an ECIR No. JPZO/01/2016 dated 11.07.2016. On the basis of material on record ED Jaipur issued Provisional Attachment Order No. 04/2016 dated 27.12.2016 or Provisional Attachment of fifty immoveable properties and fifty bank accounts aggregating of total value of Rs. 117.98 Crore. Thereafter, the Original Complaint No.679/2017 was filed before the Adjudicating Authority for confirmation of PAO.

Statement of Mahendra Meghwal employee of Bharat Bomb was recorded on 04.10.2016 (RUD-40) and 24.08.2017 (RUD-41) under Section 50(3) of PMLA, 2002, wherein he stated that his annual income is about 323.5 lakh from photocopy business and property brokerage. He worked with Bharat Bomb from 2006 to Feb, 2016. Property Vila No. 40 Parth City, Kalwar Road, Jaipur was purchased by Bharat Bomb, in his name and all payments were made by Bharat Bomb. He is not in possession of any document of this property and he has no objection, if the Government take the charge of this property. He also stated that CBI during search operation at his residence No.3, Near Gas Godown, Shri Krishna Nagar, Savina Khera, Udaipur-02, seized Rs. 66 lakhs and the said cash belongs to the Bharat Bomb. As per instruction of Bharat Bomb, he (Mahendra Meghwal) kept