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2012 (7) TMI 1096 - MADRAS HIGH COURTPrevention of Money Laundering Act, 2002 (PMLA) - proceedings of Director of Enforcement - proceeds of crime - entitlement to take possession of the properties - provisional orders of attachment - offences u/s 420 read with Section 511 IPC and Sections 4 and 5 of Prize Chits and Money Circulation Scheme (Banning) Act, 1978 - HELD THAT:- all the contentions of the writ petitioners are bound to fail, except the contention relating to the entitlement of the respondents to take possession of the properties immediately after the orders of the Adjudicating Authority. While the orders of attachment passed by the Deputy Director and the orders of confirmation passed by the Adjudicating Authority are liable to be upheld, the direction issued by the Adjudicating Authority to the Director to take possession of the properties alone is liable to be set aside. the writ petitions are allowed to a limited extent, confirming all other portions of the impugned orders of the Deputy Director and the Adjudicating Authority, except the portion relating to actual physical possession. The respondents are directed to put the petitioners back into possession of the properties. However, the legal and constructive possession of the properties shall be deemed to remain with the Deputy Director/Director and the petitioners cannot alienate, encumber or part with possession of the properties until the conclusion of the criminal proceedings against the accused and until the conclusion of the confiscation proceedings that may be taken up after the decision of the Criminal Courts. There will be no order as to costs. Consequently, connected miscellaneous petitions are closed.
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