BEFORE RAJESH MALHOTRA, MEMBER, SINGLE BENCH; APPELLATE TRIBUNAL UNDER SAFEMA: AT NEW DELHI.

FPA-PMLA-1561/DLI/2016 Manish Jain … Appellant Versus The Deputy Director, Directorate of Enforcement, Delhi … Respondent Advocates/Authorized Representatives who Argued For the Appellant : Mr. R.K. Rawal, A.R.

For the Respondent : Mr. Abhimanyu Kaul, Advocate

FINAL ORDER

18.02.2025 Present Appeal is filed by the appellant Manish Kumar Jain under Section 26 of the Prevention of Money Laundering Act, 2002 (in short `PMLA, 2002’) against the order dated 27.10.2016 passed by the Adjudicating Authority in Original Complaint No. 606/2016, whereby the properties attached by ED vide PAO No. 02/2016 dated 29.03.2016 were confirmed. The details of the said properties pertaining to the present appellant are as under:

2. As per the facts of the case, FIR No. 76 dated 18.01.2015 was registered at PS Kavi Nagar, District Ghaziabad, against the accused Manish Kumar Jain and others for commission of offences under Section 420,467,468,469 & 471 IPC, wherein it is mentioned that during the search conducted by DRI under the Customs Act, it was found that Manish Kumar Jain was involved in making illegal foreign remittances to Hong Kong through banking channels by submitting fake import documents to the bank authorities. As per the report, Manish Kumar Jain and others operated through various fictitious firms/companies and remitted about more than Rs.380 crores to Hong Kong from India during the period 2007 to 2011, showing the same as payment for import of computer parts and accessories. On further investigation by the DRI, it was revealed that Manish Kumar Jain and others had been remitting foreign exchange to Hong Kong through bogus firms/companies, namely, M/s Suntek Computers and M/s Shyam Trading Company controlled by Manish Kumar Jain adopting the same modus operandi and had remitted an amount of over Rs.100 crores from 2012 till 2014. The DRI searched the residential and business premises of Manish Kumar Jain and associates on 07.08.2014 and recovered and seized certain incriminating material in the form of huge number of blank Postal Wrappers of Hong Kong Post, large number of bogus PAN Cards and Voter ID Cards in the names of different fictitious identities. To accomplish this criminal activity of remitting foreign exchange from India to abroad, Manish Kumar Jain had opened firm, namely, Pacific Technology in Hong Kong, besides others.

On the basis of said FIR, ED recorded ECIR No.

03/LKZO/2015 dated 10.08.2015. The said ECIR was transferred to Delhi Zonal Office and was assigned new ECIR No.21/DLZO/2015 dated 01.12.2015 for further investigation against the suspects/accused persons for commission of offence of money laundering under Section 3 read with Section 4 of PMLA, 2002.

The investigation conducted by DRI, Lucknow Zonal Office against Manish Kumar Jain revealed that he had opened a large number of bank accounts in Oriental Bank of Commerce, Razapur, Ghaziabad and in Axis Bank, Razapur, Ghaziabad for import of computer parts. An amount of Rs.50 lakh to Rs.1 crore was deposited daily in various accounts and then were clubbed in 7 accounts and thereafter remitted to various overseas accounts. On the basis of forged import documents, about Rs.380 crores has been remitted abroad during the period 2007 to 2010. Accused Manish Kumar Jain had opened a firm in the name of Pacific Technology in Hong Kong and remittance was also made to this firm. Manish Kumar Jain created several bogus firms and also managed to procure blank postal wrappers of Hong Kong and after filling bogus details used to submit the same to the bank for remittance of foreign exchange, while no actual imports took place against those postal documents from Hong Kong. The major portion of foreign exchange remitted to Hong Kong was received in India from importers, namely M/s Brother Impex and M/s Sri Krishna Overseas of Delhi and others. The foreign exchange remitted to M/s Pacific Tec