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2024 Supreme(Online)(ATFP) 796
APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI FPA-PMLA-2441/JL/2018 M/s Ashiana Inn Ltd. & others … Appellants Versus The Deputy Director Directorate of Enforcement, Jalandhar … Respondent Advocates/Authorized Representatives who Argued For the appellants: Mr. Harshit Sethi, Ms. Mansi Tripathi, Mr. Kartik Yadav, Advocates.
For the Respondent: Mr. Mrinal Kumar & Mr. Priyank Khattar, Advocates.
CORAM SHRI G.C. MISHRA : MEMBER SHRI RAJESH MALHOTRA : MEMBER
FINAL ORDER
17.12.2024
Dictated by: Rajesh Malhotra
Present appeal is filed by appellant M/s Ashiana Inn Ltd. & its directors under Section 26 of Prevention of Money Laundering Act, 2002 (PMLA), against the order dated 08.06.2018 passed in Original Complaint No. 872/2018, whereby the Adjudicating Authority confirmed the Provisional Attachment Order (PAO) No.04/2017 dated 22.12.2017 and thereby the following properties of the appellants were confirmed:-
| S. No. | Description of immovable property | Description of land on which building of hotels constructed | Owner of the land | Valuation as assessed by PSB on 16.03.2015 | Owner of the property |
| 1. | Hotel Marc Royale-I, village Dhakoli, Tehsil- Derabassi. (running hotel) | 4 Bigha 16 Biswas situated at village Dhakoli, Distt. Mohali, (then Distt. Patiala) registered vide deed no. 2674 dated 24.03.1999 and 14 Biswas land for sum of Rs. 1 lakh situated at the adjacent place registered vide deed no. 106 dated 09.04.1996 | Sh. Avtar Singh (D-9) S/o Sh. Sarwan Singh (D-2) | Fair market value= 33.47 crore | M/s Ashiana Inn Ltd. (D-1) |
| 2. | Hotel March Royale-II village Dhakoli, Tehsil- Derabassi | 2 Bigha 12 Biswas land for sum of Rs. 4.5 lakh registered vide deed no. 2748 dated 05.09.2000, 2 Bigha land registered vide deed no.2691 dated 31.08.2000 & 2 Bigha 2 Biswas (In fact 2 Bigha 0 Biswas) land for sum of Rs. 4.5 lakh registered vide deed no.2817 dated 08.09.2000 all land situated at village Dhakoli, Distt. Mohali, (then Distt. Patiala). | M/s Ashiana Inn (P) Ltd (D-1) now known as M/s Ashiana Inn Ltd. (D-1) | Fair Market value=58.36 crore Conservative value=49.60 crore Distressed value=43.75 crore | M/s Ashiana Inn Ltd. (D-1) |
2. As per the facts of the case the Vigilance Bureau Flying Squad, Mohali, Punjab registered FIR No. 12 dated 26.08.2015 against Sh. Mandeep Singh, IAS, Secretary (Rtd.), Department of Public Grievances Redressal and Pension Welfare, Punjab under Section 13 (1) (e) r/w Section 13(2) of the Prevention of Corruption Act, 1988 and under Section 120-B of IPC for possession of disproportionate assets to his known sources of income. The said FIR was registered on the basis of Preliminary Enquiry conducted by the Vigilance Bureau against him. After investigation Vigilance Bureau filed the police report under Section 173 Cr.P.C. on 01.03.2017 under Section 13 (1) (e) r/w Section 13 (2) of PC Act, 1988, & 120B IPC r/w Section 420, 467, 468, 471 of IPC, before the Sessions Court, S.A.S. Nagar, Mohali, Punjab.
As per the police investigation, during the check period from 01.04.1998 to 31.03.2014, Sh. Mandeep Singh and his family members have earned total income of Rs.4,13,86,471/- from all declared lawful sources of income, but have spent sum of Rs.9,55,07,490/- and accordingly, he spent Rs. 5,41,21,019/- in excess (130% excess), of all sources of income. This expenditure includes Rs.3,01,24,555/- spent on purchase of agricultural lands in the name of his wife & sons. He also spent crores of rupees gathered through corrupt means in Ashiana Inn Ltd. and Hotel Marc Royale, situated at Dhakoli, Zirakpur, in connivance with his father Sh. Naginder Singh (since deceased) and his friend Sh. Avtar Singh. Sh. Mandeep Singh also got executed a WILL by his father Sh. Naginder Singh in his favour.
During the investigation of the said case by Vigilance Bureau, Punjab, the information was sent to Enforcement Directorate and accordingly ED registered the ECIR/JLZO/01/2016 on 18.02.2016 for conducting investigation under Prevention of Money Laundering Act, 2002, as the said offence were covered under the Scheduled Offences. During the investigation respondent ED recorded the statement of the suspects and other persons under Section 50 of PMLA as mentioned in details in para 4 of the impugned order.
On the basis of material collected during the investigation under PMLA, Deputy Director, ED, as mentioned in para no. 5 of the impugned order, it attached the agriculture land valued at Rs. 2,62,46,148/-. The Deputy Director further formed a r
