FINAL ORDER

24.09.2025

This Order disposes of the Appeal No. FPA-PMLA-537/LKW/2013 filed by the State Bank of India against the Order dated 26.09.2013 (Impugned Order) passed by the Ld. Adjudicating Authority (AA) under the Prevention of the Money Laundering Act, 2002 (PMLA) in Original Complaint (OC) No. 194/2013. The Impugned Order has confirmed the Provisional Attachment Order (PAO) No. 01/LKZO dated 13.03.2013.

2. While confirming the PAO, following observations have been made in the Impugned Order:

“20. To arrive at a fair and justifiable prima facie conclusion, the Investigating Officer had collected the following documents and materials and scrutinized them: -

(i) FIR No. RC.BD1/2009/E/0014 dt. 20.08.2009 and the Final Report dated 25.03.2011 of CBI, (ii) Investigation Report of SBI, (iii) Statement(s) of accounts in respect of Sh. Hinish Ramchandani and others with State Bank of India, Main Branch, Kanpur, (iv) Statement(s) of account of M/s SRS Investment Company & others with Union Bank of India, Swaroop Nagar, Kanpur, (v) Statement(s) of account of M/s SRS Investment Company & others with the Indus Ind Bank, Kanpur, (vi) Statement(s) of account of Sh. Hinish Ramchandani, Smt. Nandani Ramchandani, Smt. Pushpa Ramchandani, Smt. Preeti Sewani and others with ICICI Bank, IDBI Bank, Dena Bank, Kotak Mahindra Bank Ltd., Indus Ind Bank, Development Co-operative Bank Ltd.. HDFC Bank etc. (vii) Statement(s) of account of M/S SRS Laminators, M/s Rajiv Filling Station Pvt. Ltd., M/s Rajiv Motors and M/s Tejal Agencies with SBI, ICICI Bank Ltd., Indus Ind Bank. Bank, IDBI Bank, Dena Bank, Kotak Mahindra Bank Ltd., Indus Ind Bank, Development Co-operative Bank Ltd., HDFC Bank, Bank of Baroda, Axis Bank etc. (ix) documents seized from the residence and office premises of Sh. Hinish Ramchandani on 15.10.2012 as a result as search action u/s 70 of PMLA, (x) replies received from M/s SRS Investment Co., M/s SRS Developers, M/s SRS Laminators, M/s Tejal Agencies, M/s Rajiv Filling Station Pvt. Ltd. of Kanpur and other defendants.

20.2. Based on the above materials and the investigations carried out by him under the Act, spread over a period of two years he has come to the prima facie conclusion that Defendant 1 Sh. Hinish Ramchandani had generated "proceeds of crime" to the tune of Rs.12.14 crores and ploughed them into movable / immovable properties and other investments that include in the business concerns. In this PAO, properties worth Rs. 9.44 crores have been provisionally attached.

XXX

21. Order

From the analysis of above-mentioned facts and circumstances, on perusal of documents, statements of Defendants, the oral and Written Submissions made/furnished, I am prima facie convinced that the properties provisionally attached are involved in "money laundering" and therefore confirm the Provisional Attachment Order No. 01/LKZO/2013 dtd. 30.03.2013 in ECIR/01/PMLA/LZO/2009/AD (NKD)/EO(SK) and order as detailed below: -

properties-

1. Confirm the attachment properties at Sl.1 i.e. Plot / House No. 762, Q-Block, Scheme No. 1. Kakadev, Kanpur and Sl. No. 2 i.e. ground floor of Premises No. 122/497, Shastri Nagar, Kanpur. Offer of the Defendants to tender FDRs in lieu of the proceeds of crime against these properties is turned down on the grounds detailed above.

2. Confirm the attachment of property at S. No. 3 i.e. a) Premises No. 187. 'Q' Block Sharda Nagar, Kanpur, and b) Premises No. 117/Q/337, Indrapuri, Sharda Nagar, Kanpur to the extent of investment of Rs. 6 lakhs, to be paid by Defendants No. 8, 9 and 10. with whom the proceeds of crime are lying with, failing which the properties stood attached.

3. Confirm the attachment of property at Sl. No. 4 i.e. FDR for Rs.2.02 Crores with Bank of India, Noida Branch, as detailed below: -

a. FDR bearing account No. 7114437110000114 for Rs.1.01 crores dated 11.02.2011, and

b. FDR bearing account No. 7114437110000115 for Rs.1.01 crores dated 11.02.2011.

4. Confirm the attachment of property at Sl. No. 5 i