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2018 (4) TMI 600 - AT - Money LaunderingOffence under PMLA - provisional attachment - Held that:- Adjudicating Authority ought not to have reached an adverse conclusion affecting the rights of the Appellant and ought not to have acted in haste without following the procedure established by law. The only reason given in the impugned order for upholding the provisional attachment order passed by the ED in respect of the said property is that the said property was owned by M/s Shamken Multifab Ltd. as the registration in favour of the Appellant was never done. The impugned order of the Ld. Adjudicating Authority does not even consider whether the said property was proceeds of the crime. The legal effect of the registered Agreement to Sell between M/s Shamken Multifab Ltd. and M/s Arindam Sekhar Garments Marketing Pvt. Ltd. and thereafter of the sale deed which had been executed between M/s Shamken Multifab Ltd. and the appellant and presented for registration on 09.11.2013. Despite the sale consideration as provided in the said agreement to sell, i.e. ₹ 5.66 crore and the payment of the requisite stamp duty and registration fees pursuant to the same having been paid by the Appellant, the Ld. Adjudicating Authority has not even thought it fit to call the Appellant under Section 8 (2). Despite the sale consideration as provided in the said agreement to sell, i.e. ₹ 5.66 crores, has been stated as the value of the said property in the list of assets prepared by him, it had failed to take note of the fact that in light of the said agreement to sell no rights and interest in the said property continue to subsist in M/s Shamken Multifab Limited. The impugned order confirming the order of provisional attachment of the Dy. Director has been passed without any application of mind and in a mechanical manner by the Ld. Adjudicating Authority. The Ld Adjudicating Authority without appreciating the merits and/ or demerits of the order of the Dy. Director has gone on to pass the impugned order without applying its mind, considering the facts in question or appreciating the statements made by various persons before it. The impugned order is more or less a replica of the order of the Dy. Director
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