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2017 (11) TMI 942 - HC - Money LaunderingOffence under PMLA Act - attachment of fixed deposit of the HDFC Bank - Held that:- We are inclined to exercise our jurisdiction under Article 226. The respondents adopted proceedings against the Director instead of doing so against the petitioner company. The petitioner’s Director fairly deposited the amount of Rs. 25 lacs with the respondents. The proceedings were initiated by the respondents against the Director and not against the company. The maintainability of such proceedings itself is doubtful. However, when the Director sought to appeal against the order, the appeal was dismissed on the ground that it was not maintainable. The petitioner’s application for being impleaded before the adjudicating authority was also dismissed on the ground that it was not maintainable as the adjudicating authority held that it had no power of review. Most important, there is no link between the said sum of ₹ 25 lacs and the alleged proceeds of crime namely the sum of ₹ 3.61 crores received by TI Limited from CDP Limited. In the circumstances, the petition is allowed in terms of prayer (i) The FDR shall be returned together with the accretions thereto, if any. It is clarified that in the event of any evidence being obtained by the respondents in respect of the said sum of Rs. 25 lacs, they are always at liberty to take necessary action in accordance with law.
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