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2014 (11) TMI 1168 - AT - Money LaunderingProvisional Attachment Order - offence under PMLA - corroborative evidence to conclude that the borrower company is involved in any manner with the proceeds of crime and that the borrower company has not committed any scheduled offence and is not involved in laundering of proceeds of crime of Mr. Madhu Koda - Held that:- Normally if the Adjudicating Authority has power to give an opportunity of hearing to a person whose properties have been attached and to whom the notice under Section 8(1) of the Act has not been given, such a person should normally approach the Adjudicating Authority and show and demonstrate prima facie his rights in the properties which have been attached and thereafter, he will be entitled for hearing as to why the properties which have been attached be released from attachment. Though the connotation of word ‘aggrieved’ under Section 26 may be very wide and may include even the appellant, however, it may not be appropriate to entertain the appeal of the appellant in the facts and circumstances. Therefore, in the present facts and circumstances it is incumbent upon the appellant to approach the Adjudicating Authority to seek the relief claimed by the appellant, in case the appellant has any right on the properties which have been attached by the respondent. Therefore, the appropriate remedy of the appellant is to invoke the power of Adjudicating Authority to hear the appellant. In case the appellant files an appropriate application before the Adjudicating Authority, the appellant will be liable to prima facie satisfy the Adjudicating Authority that it has the rights in the properties which have been attached. The Adjudicating Authority will determine, in case the appellant approach the Adjudicating Authority, whether the appellant, prima facie has any rights or lien on the properties which are sought to be attached and thereafter on being satisfied about the right of the appellant to give hearing to the appellant as contemplated under proviso to Section 8(2) of the Act.
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