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2024 Supreme(Online)(ATFP) 790
APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI (1) MP-PMLA-1480/AHD/2015 (Misc.)
& FPA-PMLA-135/AHD/2010 Sh. Babulal Shantilal Modi … Appellant (2) MP-PMLA-3663/AHD/2017 (Misc.)
MP-PMLA-1479/AHD/2015 (Misc.)
MP-PMLA-53/AHD/2010 (SP) & FPA-PMLA-122/AHD/2010 Shri Nikunj Babulal Modi … Appellant (3) MP-PMLA-1481/AHD/2015 (Misc.)
& FPA-PMLA-136/AHD/2010 Ms. Madhubala Babulal Modi … Appellant (4) MP-PMLA-1482/AHD/2015 (Misc.)
& FPA-PMLA-137/AHD/2010 Ms. Hetal Nikunj Modi … Appellant (5) MP-PMLA-1483/AHD/2015 (Misc.)
& FPA-PMLA-138/AHD/2010 Mrs. Ramilaben Govindbhai Khalas … Appellant (6) MP-PMLA-1484/AHD/2015 (Misc.)
& FPA-PMLA-139/AHD/2010 Mr. Sandip Govindbhai Khalas … Appellant (7) MP-PMLA-1485/AHD/2015 (Misc.)
& FPA-PMLA-140/AHD/2010 Shri. Vijay Govindbhai Khalas … Appellant (8) MP-PMLA-1486/AHD/2015 (Misc.)
& FPA-PMLA-141/AHD/2010 Shri. Govindbhai Narandas Khalas … Appellant (9) MP-PMLA-1487/AHD/2015 (Misc.)
& FPA-PMLA-142/AHD/2010 Shri Sanjay Govindbhai Khalas … Appellant (10) MP-PMLA-2451/AHD/2015 (Recall.)
& FPA-PMLA-149/AHD/2011 Shri. Naresh Natwarlal Panchal … Appellant (11) MP-PMLA-2449/AHD/2015 (Recall.)
& FPA-PMLA-150/AHD/2011 Smt. Roopal Naresh Panchal … Appellant (12) MP-PMLA-2450/AHD/2015 (Recall.)
& FPA-PMLA-156/AHD/2011 Arjav Nareshbhai Panchal … Appellant (13) MP-PMLA-390/AHD/2024 (Misc.)
& FPA-PMLA-146/AHD/2011 Narmadaben Maneklal Panchal … Appellant (14) FPA-PMLA-147/AHD/2011 Shri Rajesh Kantilal Panchal … Appellant (15) FPA-PMLA-148/AHD/2011 Smt. Samita Rajesh Panchal … Appellant (16) FPA-PMLA-151/AHD/2011 Shri. Deepak Jitmal Shah … Appellant (17) FPA-PMLA-152/AHD/2011 Smt. Pushpa Deepak Shah … Appellant (18) FPA-PMLA-153/AHD/2011 Deepak Jasvantlal Panchal … Appellant (19) FPA-PMLA-154/AHD/2011 Deevangi Dipakbhai Panchal … Appellant (20) MP-PMLA-388/AHD/2024 (Misc.)
FPA-PMLA-155/AHD/2011 Pramilaben Ranchhodlal Panchal … Appellant (21) FPA-PMLA-157/AHD/2011 Ranchhodlal Nanalal Panchal … Appellant (22) FPA-PMLA-562/AHD/2011 Devangi D Panchal … Appellant (23) MP-PMLA-5671/AHD/2019 (Misc.)
MP-PMLA-5540/AHD/2019 (A.E.)
FPA-PMLA-269/AHD/2011 Dipak J Panchal … Appellant Versus The Joint Director Directorate of Enforcement, Ahmedabad … Respondent Advocates/Authorized Representatives who appeared For the Appellants : Mr. Ashim Sood, Adv.
Mr. Ekansh Gupta, Adv. Mr. Prateek Kundu, Adv.
For the Respondent : Ms. Anubha Bharadwaj, Adv.
Mr. Mohit Kumar, Adv.
Mr. Astik Dubey, Adv.
CORAM:
JUSTICE MUNISHWAR NATH BHANDARI : CHAIRMAN SHRI RAJESH MALHOTRA : MEMBER
FINAL ORDER
18.12.2024
FPA-PMLA-122 & 135-142/AHD/2010, FPA-PMLA-146-157, 269&562/AHD/2011
By the batch of appeals under Section 26 of the Prevention of Money Laundering Act, 2002 (in short ‘the Act of 2002), a challenge has been made to the order dated 12.08.2009 passed by the Adjudicating Authority confirming the Provisional Attachment Order dated 22.04.2009.
2. It is a case where the following movable properties have been attached by the respondent:
| 1. | Rs. 2,67,731.45 (Rupees Two lakhs Sixty Seven thousand Seven hundred Thirty one and paise forty five only) lying in the Bank Account No. 002405001707 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad.[Account frozen by C.B.I] |
| 2. | Rs. 1,68,443.55 (Rupees One lakh sixty eight thousand four hundred forty three and paise fifty five only) lying in the Bank Account No. 002405001708 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I]. |
| 3. | Rs. 5,84,358.72 (Rupees Five lakhs eighty four thousand three hundred fifty eight and paise seventy two only) lying in the Bank Account No. 002405001709 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I] |
| 4. | Rs. 4,08,283.10 (Rupees Four lakhs eight thousand two hundred eighty three and paise ten only) lying in the Bank Account No. 002405001710 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I] |
| 5. | Rs. 1,79,376.81 (Rupees One lakh seventy nine thousand three hundred seventy six and paise eighty one only) lying in the Bank Account No. 002405001711 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I] |
| 6. | Rs. 12,14,164.27 (Rupees Twelve lakh fourteen thousand one hundred sixty four and paise twenty seven only) lying in the Bank Account NO. 002405001713 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I] |
| 7. | Rs. 3,47,627.83 (Rupees Three lakhs forty seven thousand six hundred twenty seven and paise eighty three only) lying in the Bank Account No. 002405004988 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by CBI] |
| 8. | Rs. 2,51, 363.18 (Rupees Two lakhs fifty one thousand three hundred sixty three and paise eighteen only) lying in the Bank Account No. 002405004989 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad. [Account frozen by C.B.I.] |
| 9. | Rs. 1,62,164.90 (Rupees One lakh sixty two thousand one hundred sixty four and paise ninety only) lying in the Bank Account No. 002405004990 held with ICICI Bank, JMC House Branch, Parimal Garden, Ahmedabad [Account frozen by C.B.I.] |
3. The learned counsel for the appellants submitted that the respondent had earlier also filed OC Nos. 11 of 2008, 15-17 of 2008 and 19 of 2008 against some of the appellants in pursuance to the ECIR recorded after registration of the FIR. It is a case where IPOs were opened for subscription by the Infrastructure Development Finance Company Ltd. (IDFC) and another IPO in respect of Yes Bank Ltd. (YBL). The allegation against the appellants is that they obtained the shares held in the DEMAT account based on fraudulently prepared documents. Earlier, all those OCs resulted in confirmation of the Provisional Attachment Orders and the present matter is in furtherance to the earlier OCs for attachment of the properties.
4. It is not in dispute that in pursuance to the FIR, charge sheet has been filed before the Court of Competent Jurisdiction at Mumbai. The investigation in the case was even carried out by the Security and Exchange Board of India (SEBI). However, independent to the aforesaid, copies of the bank statements were taken into consideration to come to the conclusion that the amount lying in the bank accounts of the appellants was the proceeds of crime committed by them. The FIR was otherwise registered for the offence under Section 120-B read with Section 420, 467, 468 and 471 IPC and Section 13(2) read with Section 13(1)(d) of the Prevention
