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2018 (2) TMI 1058 - AT - Money LaunderingOffence under PMLA - in-genuine investments made into M/s Jagati Publications Ltd and M/s Carmel Asia Holdings Pvt Ltd - provisional attachment - Held that:- The allegation of bribe and cheating are yet to be considered by the Special Court. It is yet to be examined after trial as to whether any criminality is involved or not. There is no denial on the part of the appellants that the said investments were made. There are versions against the version of the respondent who stated that the investors have obtained favour from Government of Andhra Pradesh. The said aspect has to be determined at the time of trial as to whether despite of attachment of land of Government of Andhra Pradesh it was a genuine investment. In view of facts involved in the present appeals the appellants have not discharged their burden fully, thus benefit of doubt cannot be given to the appellants in the present appeals at this stage as the respondent is yet to prove the said allegation before the Special Court about the criminality of the appellant who are allegedly involved in the schedule offences and under PML Act, 2002. We are in agreement with the submission of the learned senior counsel for the appellants that attachment to an extent of ₹ 2,50,00,000/- in the hands of M/s Indira Television Pvt.Ltd. is ex facie erroneous as the last tranche of investment of ₹ 2,50,00,000/- was made by M/s Carmel Asia Holdings Pvt. Ltd. into M/s Indira Television Pvt Ltd. from 01.04.2014 to 30.09.2014 The attached properties were, admittedly, acquired by 31.03.2014.Therefore, without prejudice, we modify the impugned order about the attachment, at least, to an extent of ₹ 2,50,00,000/- in the hands of M/s Indira Television Pvt Ltd. as the said attachment ought not have been done. Similarly the attachment to an extent of ₹ 6,94,88,000/- in the hands of M/s Janani Infrastructure Pvt.Ltd.is erroneous as it is the admitted position that as investment of ₹ 6,94,88,000/- into M/s Janani Infrastructure Pvt. Ltd. by M/s Carmel Asia Holdings Pvt. Ltd. (Out of the total investment of ₹ 11,54,87,968) was made on 30.10.2006 and 30.11.2006 even prior to the investment by M/s P.R. Energy Holdings Ltd. into the M/s Carmel.
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