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2021 (10) TMI 705 - HC - Money LaunderingMoney Laundering - reasons to believe possession of proceeds of crime or not - attachment of residential properties - sub-section (1) of section 5 of the Prevention of Money Laundering Act, 2002 - HELD THAT:- We have refrained from delving into the factual narrative as stated in the impugned order of provisional attachment. This is so because we are of the opinion that when the matter is at the stage of adjudication under section 8 of the PMLA Act and adjudication hearing is fixed on 27th October, 2021, we should allow the statutory authority to deal with the matter in accordance with the statute. Of course the point of law raised by Mr.Nankani without adverting to the facts of the present case is an important one and as held by the Punjab and Haryana High Court in Seema Garg [2020 (3) TMI 460 - PUNJAB & HARYANA HIGH COURT] is certainly a matter which requires attention of the adjudicating authority. The other aspect which has also caught our attention is that the properties attached are much more valuable than the alleged proceeds of crime stated to have been in possession of the petitioners. Petition disposed off.
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