By this appeal, a challenge has been made to the order dated 14.10.2025 passed by the Adjudicating Authority confirming the Provisional Attachment Order (“PAO”) dated 10.05.2024.

Brief facts of the case:

2. The provisional attachment of the property was caused after recording of the ECIR and initiation of investigation under the Prevention of Money Laundering Act, 2002 ( in short “the Act of 2002”). The ECIR was recorded on registration of FIR dated 20.03.2015 at Santacruz Police Station for the offences under Section 34, 406 and 420 of the Indian Penal Code, 1860 (“IPC”). It was based on the complaint of Mr. Mahesh J Pariyani against Mr. Kiran Peswani, Mr. Gopal Thakur, Mr. Hasmukh Thakur and Mr. Roshan Sheth. It was alleged that the accused with the intention to deceive , gained Mr. Pariyani’s trust and induced him to buy a flat in a Monarch Group project, promoting him to pay Rs. 7 Crores. To make the transactions appear legitimate, they provided allotment letter, an agreement for sale, an irrevocable power of attorney, a possession letter and a no-lien letter. However, the flat was sold to another person.

3. The other FIR was registered on 27.10.2016 at Naupada Police Station f