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2019 (8) TMI 1774 - HC - Money LaunderingMoney Laundering - proceeds of crime - allegation is that the respondents who were doing business in gold though received money through RTGS transaction did not part with the gold - HELD THAT:- The submission made with respect to the statement made by Mr.Sukash Chandra Shekar pertains to only a sum of ₹ 46,69,000/-. Similarly in respect of the other amount of ₹ 51,25,000/-, there is a RTGS transaction. Thus, the appellate tribunal's findings in this regard cannot be found fault with. The appellate tribunal has rendered the above decision by considering the materials available on record. However, we find that a specific averment has been raised by the appellate in the complaint that the total amount of ₹ 4,60,94,825.97 is also the proceeds of the crime. The final adjudication in this matter is to be done by the trial court which is ceased of the matter. The order passed by the appellate tribunal stands modified. The respondents in both the appeals shall furnish either bank guarantee or immovable property security to the satisfaction of the adjudicating authority forthwith for a sum of ₹ 3,63,00,825.97. In other respects, the order passed by the appellate tribunal stand confirmed. The Registry is directed to post this matter on 14.10.2019 for reporting compliance.
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