2010 (8) TMI 947 - BOMBAY HIGH COURT

Money Laundering - Attachment of property - appeal u/s 42 - HELD THAT:- the opinion of the Authorities arrived at for the purpose of passing order of provisional attachment of proceeds of crime in possession of the appellants herein would be unexceptionable. Taking any view of the matter, the satisfaction recorded by the Authority and confirmed by the Adjudicating Authority which has been upheld by the Appellate Tribunal, is founded on cogent material to justify the said opinion. As a result, no interference is warranted with the concurrent view taken by the three Authorities below on the factum of satisfaction and recording of reasons to believe that the properties placed under provisional attachment were proceeds of crime and that the same were likely to be concealed, transferred or dealt with in any manner, which may result in frustrating any proceedings relating to confiscation of such proceeds of crime. Moreover, in the facts of the present case we have upheld the decisions of the Authorities below having found that the same were unexceptionable and does not suffer from any infirmity nor are manifestly wrong. Accordingly, all these appeals fail being devoid of merits.

Instead, we confirm the provisional attachment orders as passed by the Deputy Director and confirmed by the Adjudicating Authority, which view has been upheld by the Appellate Tribunal. Therefore, we proceed to pass order.