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2017 (8) TMI 753 - AT - Money LaunderingProvisional attachment - PMLA - Adjudicating Authority has not given any reasons as to why he arrived at the conclusion that ₹ 70 lakhs has not come from clean and legitimate source and has come from the alleged proceed of ₹ 85,28,63,700 crores and has failed to appreciate the fact that Sh. B.L. Venkataiah @ Venkaiah in his statement dated 09.06.2014 has stated that ₹ 70 lakhs went to the appellant from ₹ 104,18,55,950 crores in the account of M/s Indu Builders Held that:- We have gone through the findings and conclusion of the Adjudicating Authority available at internal page 14 to 17 of the impugned order. It is not discussed as to which of the documents supports the finding of the Adjudicating Authority that ₹ 70 lakhs was out of ₹ 85,28,68,700/- crores and not out of the 19 crores which is claimed as the legitimate money in the account of M/s Indu Builders. Since the defendant /appellant has been consistently raising the aforesaid issue that ₹ 70 crores is not from the proceeds of crime i.e. 85,28,68,700 crores but from other 19 crores, out of the total 104,18,55,950 crores in the account of M/s Indu Builders, it was necessary on the part of Adjudicating Authority to pass a speaking order on merit on this issue. Since the aforesaid issue was a contentious issue of fact before the Adjudicating Authority, it should have been decided primarily alongwith all other pleas raised by the appellant in her pleadings by the Adjudicating Authority for the better appreciation of the case in its entirety. Therefore, it is felt by this Tribunal that this case is a fit case to be remanded back to the Adjudicating Authority with direction to specifically give a clear finding as to “whether ₹ 70 lakhs is the money out of the 19 crores, claimed to be the legitimate money in the account of M/s Indu Builders or from ₹ 85,28,68,700 crore alleged to be proceeds of crime in the account of M/s Indu Builders out of the total amount of ₹ 104,18,55,950 crore. The Adjudicating Authority shall also decide all other pleas raised by the appellant in her pleadings. In the light of the above, the impugned order is set aside and the matter is remanded back to the Adjudicating Authority for deciding the matter afresh by way of a speaking order which shall disclose findings on all the issues raised by the appellant including the one mentioned in para above.
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