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2020 (7) TMI 415 - AT - Money LaunderingMoney Laundering - provisional attachment order - whether the appellant has made out a prima facie case for grant of order of status quo ante? - HELD THAT:- Since the respondent has followed the procedure prescribed, there are no illegality in getting the amount transferred in the account of ED. The appellant has offered Bank Guarantee for the retransfer of the aforesaid amount is not agreed by the respondent. During the course of hearing, the ld. senior counsel for the appellant submitted that the appellant is economically hard pressed and the aforesaid amount would be utilized by them for their real estate business. The aforesaid amount is alleged to be the proceeds of crime, therefore, the said amount cannot be allowed to be used by the appellant at this stage. Appropriate decision would be taken after hearing the parties on the merits of the appeal. At this stage, the offer of the appellant cannot be allowed. The application seeking ad-interim order for reversal of the transfer of funds and restoration of status quo-ante is dismissed - The appeal is already listed on 11th September, 2020.
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