Petitioners are knocking at the doors of Writ Court

for laying a challenge to the proceedings taken up under

the provisions of Prevention of Money Laundering Act,

2002 ('Act' for short) and to the Provisional Attachment

Order dated 28.9.2021 made by the respondent at

Annexure-A; after service of notice, the respondent having

3

entered appearance through his Senior Panel Counsel,

opposes

the

Writ

Petition

making

submission

in

justification of the impugned order.

2.

Brief facts:

(a)

The Anti Corruption Bureau, Srinagar, Jammu

& Kashmir, registered Crime No.17/2019 on 6.8.2019

against the petitioners for the offences punishable u/ss

5(1)(d) r/w section 5(2) of Jammu & Kashmir Prevention of

Corruption Act, 2006 r/w section 120B of the Ranbir Penal

Code, 1989 (hereafter ‘1989 Code’); the essential allegation

is that during the period between 2002 and 2017, a

company by name M/s S.A.Rawther Spices Pvt. Ltd, had

obtained

financial

assistance,

in

all

amounting

to

Rs.308.13 crore from the J&K Bank, Bangalore; the loan

account became NPA during September 2017 and the net

amount that remained un-repaid was quantified at

Rs.285.81 crore plus unapplied interest of Rs.66.91 crore.

(b)

In or aro