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2019 (2) TMI 1362 - AT - Money LaunderingOffence under PMLA - Attachment orders - Appellant Bank has the right to recover the loan amount against the mortgaged properties, under law - HELD THAT:- As per admitted position as that the attached properties are the mortgaged /Hypothecation/pledge agreements and deeds of corporate and personal guarantee, the due amount alongwith the interest is to be realized by the banks/lenders. The trial in the matter against the borrowers may take number of years. The borrowers have cheated not only the bank but also appropriated the public money and left the country by playing the fraud upon this country. No one is aware when the borrowers will return back, and pay the due amount and face the criminal trial and how much time will take to complete the trial. The amount due against the security cannot be delayed. Therefore the resolution process cannot be blocked. The amount must come to the banks/public sector banks being public money. The approach of the government is appreciable for bringing the law on this as aspect of Resolution process. Under these circumstance till the next date of hearing the operation of the impugned order shall remain stayed. The Resolution process shall continue but the properties shall not be finally disposed without the permission of this Tribunal till the next date.
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