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2019 (7) TMI 960 - AT - Money LaunderingPrevention of money laundering - Section 35(2)(f) of the Prevention of Money Laundering Act, 2002 - valid “reasons to believe” present or not - HELD THAT:- The main reason for filing the present review petition is that in the present case, the ED’s ECIR was registered solely on the basis of registration of FIR by the CBI. However, the CBI having now filed a Closure Report, the direction to the Petitioner herein to secure the amount of ₹ 115 crores, alleged to be the proceeds of crime by the ED, is clearly an error apparent on the face of the record. It is submitted that closure report having been filed, the same would constitute a sufficient reason within the meaning of Order 47 Rule 1 CPC for this Tribunal to review its earlier decision. This Tribunal is empowered to confirm, modify or set-aside the order appealed under Section 26(4) of the Act.
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