APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI FPA-PBPT-38/AHD/2024 M/s Bajrang Traders … Appellant Versus The Initiating Officer, BPU, Ahmedabad … Respondent Advocates/Authorized Representatives who appeared For the Appellant : Mr. Aseem Thakkar, C. A.

For the Respondents : Mr. Kanhaiya Singhal, S.P.P Mr. Rishabh Bhardwaj, Advocate CORAM JUSTICE MUNISHWAR NATH BHANDARI : CHAIRMAN SHRI G. C. MISHRA : MEMBER

FINAL ORDER

10.12.2025 The appeal has been preferred by the appellant to challenge the order dated 29.12.2023 passed by the Adjudicating Authority, confirming the provisional attachment order and at the same time, answering the reference sent by the IO. The impugned order was passed under section 26 (3) of the Prohibition of Benami Property Transaction Act, 1988 (in short, the Act of

1988).

2. The appellant M/s Bajrang Traders has been treated as the beneficial owner, while M/s Green Traders has been taken as the benamidar. Shri Tejas C Desai has been treated as Abettor no. 1 and Afzalbhai Savjani Sadikali as abettor no. 2.

3. It is a case where certain benami transactions were carried at the time of demonetization of the currency notes by the Government of India. A survey was conducte