APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI (1) FPA-PBPT-1861/BBS/2022 Gagan Bihari Mallik … Appellant (2) FPA-PBPT-1862/BBS/2022 Soumendra Kumar Mohanty … Appellant Versus The Initiating Officer, BPU, Bhubaneswar … Respondent Advocates/Authorized Representatives who appeared For the Appellants : Mr. Prakash C. Sethi, Advocate For the Respondent : Mr. Anish Dhingra Mr. Nakul Ahuja Mr. Mohit Kumar, Advocates CORAM JUSTICE MUNISHWAR NATH BHANDARI : CHAIRMAN SHRI G. C. MISHRA : MEMBER

ORDER

25.11.2025 These two appeals have been preferred by benamidar and beneficial owner to challenge the order dated 28.01.2022 passed by the Adjudicating Authority confirming the provisional attachment order while answering the reference. The appellant Gagan Bihari Mallik is held to be benamidar while Sh. Soumendra Kumar Mohanty held to be the beneficial owner. Aggrieved by the order passed by the Adjudicating Authority confirming the provisional attachment order, the appeal has been preferred raising factual and legal issues. However, before those issues are referred, it would be relevant to refer the brief facts of the case.

Brief facts of the case

2. A search and seizure under section 132 of the Incom