ORDER

24.09.2025

These appeals have been preferred to challenge the order dated 25.07.2022 passed by the Adjudicating Authority confirming the Provisional Attachment Order dated 27.09.2021 ( in short ‘PAO’ ).

2. It is a case where an FIR No. 97/2014 was registered by the Belgharia Police Station, Kolkata on a complaint lodged by Shri Goutam Dutta alleging that he had invested a sum of 4,92,606/- with M/s I-Core E Service Ltd. in pursuance to their advertisement. It is with an assurance to return the money with high interest but neither the principal amount nor the interest was paid to the complainant, rather, amount was misappropriated, thus an FIR. Similar FIRs were registered one after another in different police stations.

3. Ld. Counsel for the appellant raised many legal issues for which we are not required to go deep in the facts of the case.

4. Ld. Counsel for the appellant, at the outset, submitted that the Impugned Order passed by the Adjudicating Authority is without application of mind. The compliance of Section 5(1) of the Prevention of Money Laundering Act, 2002 ( in short “the Act of 2002” ) has been shown in reference to a company which is different than involved in these