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2014 (9) TMI 1123 - AT - Money LaunderingProvisional attachment - PMLA Act - alternate remedy - Held that:- The plea of the Appellant that he has no other right before any other forum to agitate his right except to file the present appeal under section 26 of the Act cannot be accepted. In the circumstances the appropriate course for the Appellant would have been to file an appropriate application invoking his right to be heard under proviso to section 8(2) of the Act and to establish before the Adjudicating Authority that he has a right in the property which has been provisionally attached and for which provisional attachment order has also been confirmed. Entertaining the Appeal of the Appellant, though he has a right to approach the Adjudicating Authority seeking a right of hearing under proviso to section 8(2) of the Act can have serious consequences leading to deprivation of rights to the opposite parties. If this Tribunal entertains the appeal of the Appellant and comes to the conclusion that the appellant has a right in the property which has been attached and the said property is not liable for attachment, then the respondent shall be deprived of his right of first appeal, as contemplated under section 26 of the Act and will be left only with invoking his right of second appeal as contemplated under section 42 of the Act. When an efficacious remedy is available to the appellant, then whether it will be appropriate to entertain his appeal in the facts and circumstances. Therefore, in the facts and circumstances and for the foregoing reasons, the appeal of the appellant is not entertained and it is left to the appellant to invoke the remedy available to him under the Act, in case the Appellant has a right over the property which had been provisionally attached and which attachment order had been confirmed by the Adjudicating Authority.
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