FPA-PMLA-2954/CHN/2019

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APPELLATE TRIBUNAL FOR SAFEMA, FEMA, PMLA, NDPS & PBPT ACT

AT NEW DELHI

Date of Decision: 31.12.2020

FPA-PMLA-2954/CHN/2019

Aditya Birla Housing Finance Limited.

Having its Registered Office at:

Indian Rayon Compound, Verawal,

Gujarat-362266 and Branch Office at

One India Bulls Centre, Tower-1, 15^th Floor,

Jupiter Mill Compound, 841, Senapati

Bapat Marg, Elphinstone Road, Mumbai – 400013.

Through Authorised Representative:

Shri Tarun Sharma

…

Appellant

Versus

The Deputy Director,

Directorate of Enforcement (PMLA), Chennai

… Respondent

Advocates/Authorized Representatives who appeared

For the Appellant

:

Shri Sanjeev Singh, Advocate

Shri Prashant Tripathi, Advocate

For the Respondent (ED)

:

Shri S.K. Sharma, Advocate

Shri Rama Gopala Reddy Karri, I.O.

CORAM

SHRI G. C. MISHRA

:

ACTING CHAIRMAN

JUDGEMENT

FPA-PMLA-2954/CHN/2019

The present appeal has been filed by the appellant against the order

dated 16.01.2019 passed by the Adjudicating Authority confirming the

Provisional Attachment Order (P.A.O) no. 11/2018 dated 31.07.2018.

2.

The facts in brief:

a.

A criminal case was registered vide RC no. 08/E/2018-BS & FC/BLR

on

24.03.2018

by

CBI,

BS

&

FC,

Bangalore,

against

the

individuals/firms/Company named below for commission of offences of

FPA-PMLA-2954/CHN/2019

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Criminal Conspiracy, Criminal Breach of Trust, Cheating, Forgery, using as

genuine a forged Document and Criminal misconduct by Public Servants on

the basis of a written complaint dated 23.03.2018 from Shri G.D.

Chandrashekhar, General Manager, (MC-1), Mid Corporate Regional Office-I,

State Bank of India, Chennai Region against M/s. Nathella Sampath Jewelry

Private Limited, Chennai & Ors. for offences under Section 120B read with

Section 409, 420, 467, 468 & 471 of Indian Penal Code, 1860 and Section

13(2) read with Section 13(1)(d) of the Prevention of Corruption Act, 1988 in

the said FIR.

i.M/s. Nathella Sampath Jewelry Private Limited. (M/s. NSJPL) (D-1)

ii.Shri N. Ranganath Gupta, Promoter cum Managing Director (D-2).

iii.Shri N. Prasanna Kumar, Director (D-3).

iv.Shri N. Prapanna Kumar, Director (D-4).

v.Shri Sohun C.J. Partner of M/s. Jeeravla & Co., Chartered Accountant,

Kilpauk Chennai & Statutory Auditor of D-1 and unknown Public

Servants and unknown others.

b.

It is revealed that during the period 2009 to 2017 M/s. NSJPL was

enjoying financial assistance in the form of working capital credit limits with

IOB, ICICI, HDFC & Citi Bank to the tune of Rs.71 crores which was taken

over by SBI during 2009 by sanctioning Rs.100 crores to M/s. NSJPL and

that the exposure of SBI was reduced from Rs.100 crores to Rs.70 crores

during January, 2010, with an overall limit of Rs.112 crores and that the limit

of SBI subsequently increased during the period 2010 to 2012 to Rs.210

crores and that in February, 2013, the erstwhile State Bank of Travancore (e-

SBT) sanctioned a limit of Rs.40 crores thus, the overall credit limits were

Rs.305 crores and all the banks were brought under the Consortium

Agreement with SBI being the lead bank and that in 2015, Union Bank of

India was inducted into the Consortium and the said bank sanctioned a limit

of Rs.50 crores and that financial facilities viz., option to avail CC (Hyp)/Metal

Gold Loan were also permitted and M/s. NSJPL purchased gold in the form of

bullion either from the nominated banks in the Consortium or from the open

market by utilizing the limits and that as on 31.03.2017, these banks that

FPA-PMLA-2954/CHN/2019

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viz., SBI, HDFC & Union Bank of India were Consortium members and the

limits availed by M/s. NSJPL from the said banks were Rs.250 crores, Rs.40

crores and Rs.50 crores respectively all totaling Rs.340 crores and that the

credit limits were permitted based on the drawing power availab