FINAL ORDER

22.10.2024

Dictated by G. C. Mishra:

The present appeal has been preferred against the order of the Ld. Adjudicating Authority (“AA”) dated 01.03.2024 in O.A no. 1027/2023 wherein it has allowed the Original Application (O.A), as mentioned above, filed by the Enforcement Directorate (“ED”) for retention of the seized properties i.e. Rs. 16,50,000/- and jewellery items valued at Rs. 7,61,79,069/- seized on 29.09.2023 under Prevention of Money Laundering Act, 2002 (hereinafter referred to as “PMLA,2002”).

Brief Facts as per O.A.:

I. It is seen from the record that the respondent ED filed O.A before the Ld. AA, registered as O.A no. 1027/2023, against the appellant praying therein for retention of jewellery items and cash seized vide Panchnama dated 29.09.2023 for further investigation in terms of section 17(4) of the PMLA, 2002.

II. It is, inter-alia, pleaded in the said O.A that the Respondent ED registered ECIR vide F.No. ECIR/DLZO-I/43/2021 on the basis of scheduled offences registered vide RC221/2021/E/009 dated 17.05.2021 under section 120-B & 420 of Indian Penal Code & Section 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988 against U.S Awasthi, MD & CEO, Indian F