APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI MP-PBPT-1407/MUM/2024 Exemp.

MP-PBPT-1408/MUM/2024 Stay FPA-PBPT-375/MUM/2024 Jagdish Kumar M. Gupta … Appellant Versus The Initiating Officer, BPU-1 Mumbai … Respondent Advocates / Authorized Representatives who appeared:

For the Appellant(s) : Counsel appeared For the Respondent(s) : Mr. Manmeet S. Arora, S.P.P.

CORAM JUSTICE MUNISHWAR NATH BHANDARI : CHAIRMAN MR. V. ANANDARAJAN : MEMBER

ORDER

08.04.2026 This appeal has been filed to challenge the order dated

11.09.2024 passed by the Adjudicating Authority confirming the Provisional Attachment Order (“PAO”) while answering the reference.

Arguments of the Ld. Counsel for the appellant:

2. Ld. Counsel for the appellant made a reference of the facts to the case for challenge to the order alleging it to be not involving benami transaction. It was submitted that the appellant proposed to purchase flats in a building to be constructed in the name of ‘Prathamesh Galaxy’. The developer, namely, M/s Sailee Developers issued allotment letters on 24.07.2002 and 26.01.2003 in the name of the appellant confirming and reserving four flats on different floors. The amount of consideration was paid and menti