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2015 (7) TMI 1324 - HC - Money LaunderingOffence under PMLA - Provisional Order of Attachment - availability of alternate remedy - Defective notice - provision for stay in respect of the appeals to be preferred under Section 26 of PMLA - HELD THAT:- Notice under Section 8(1) of PMLA is not in consonance with the provisions of PMLA, cannot be gone into by this Court at this stage, as the petitioners were granted liberty to approach the Appellate Authority. Other submission made by the petitioners, that the second respondent had also seized ₹ 50 lakhs being proceeds of crime and is also attempting to open the two lockers and take away it's contents, the legality of the said act cannot be considered by this Court at this stage, in these writ petitions, for the reason that the petitioners are having an effective alternate remedy under Section 26 of PMLA. No doubt, there is no provision for stay in respect of the appeals to be preferred under Section 26 of PMLA. However, it is settled position of law that the Appellate Authority being the creature of a Statute, is having inherent power, to grant interim orders pending disposal of the appeal, and in such a view of the matter, it is always open to the petitioners to move applications for stay. This Court is of the view that the writ petitions are not maintainable on the ground of availability of alternate remedy.
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