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2017 (12) TMI 840 - AT - Money LaunderingOffence under PMLA - provisional attachment order- Complaints filed by the banks making allegation against the company for availment of Agri Loans by forged and fabricated documents, which were disbursed to the appellant no. 1 company - Held that:- Admittedly, no notice was issued nor any opportunity was granted to the banks of being heard. Thus, the impugned order is liable to be set- aside. Had any notice been issued to all the banks and opportunity was granted for hearing, the banks could have made their claim and argued that the properties in question were not involved in the money laundering. As is evident that ED as well as AD failed to considered the reply filed by the appellant contrary to 8(2) of the Act. The issue of mortgage of properties was already available with ED while recording the statement of appellant under section 50 of the Act. Even the Adjudicating Authority failed to considered the reply filed by the appellant where the full details were disclosed. However, both ED and Adjudicating Authority chose not to discuss the main issue. The impugned order is completely silent and has been passed without even considering the documents and explanation provided by the appellants by way of reply and compilation as filed before the Adjudicating Authority.Prima facie, the provisional attachment order as well as the impugned order is an arbitrary order passed by the Adjudicating Authority whereby five (5) properties of the appellants have been attached, without any cogent reason or any basis. In view of the above, the appeal is allowed the impugned order is set aside. The matter is remanded back to the Adjudicating Authority for re-hearing after issuing the notice to all banks and shall consider and discuss the reply filed by the appellant and to be filed by the banks before passing the order on merit. Since, it is an important matter, the final order be passed within 180 days from today.
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