FINAL ORDER

11.12.2025

This Order disposes of the Appeal No. FPA-PMLA-2267/JP/2018 filed by M/s Kamal Sponge Steel & Power Ltd., against the Order dated 22.03.2018 (Impugned Order) passed by the Ld. Adjudicating Authority (AA) under the Prevention of Money Laundering Act, 2002 (PMLA) in the Original Complaint No. 833/2017 (OC). The Provisional Attachment Order No.09/2017 dated 27.09.2017 (PAO) issued in ECIR No. ECIR/10/JPZO/2013 dated 27.02.2013 was confirmed vide the Impugned Order. Provisional attachment of seven Bank Accounts and FDRs (Fixed Deposit Receipts) of the Appellant with total cash balance of Rs. 2,26,41,973.85 and of the immovable properties of the Appellant comprising of land, part of plant and machinery and power plant all valued at Rs. 29,91,08,026/- was also confirmed. Thus, the total value of the movable and immovable properties of which the attachment is confirmed is Rs. 32,17,50,000/-.

2. Ld. Counsel for the Appellant challenged the Impugned Order on the ground that there is absolutely no allegation in either the FIR or in the charge-sheet filed by the CBI (Central Bureau of Investigation) against the Appellant Company about it having cheated any investor or shar