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Rose Valley Hotels And Entertainments Ltd, Gautam Kundu, Shibamoy Dutta, Modern Investment And Traders Pvt Ltd And Ors, Brand Value Communications Ltd And Ors, Rose Valley Real Estate And Constructions Ltd Versus The Secretary Department of Revenue Ministry of Finance And Others

2015 (7) TMI 255 - DELHI HIGH COURT

Maintainability of appeal - Availability of alternate remedy - Held that:- Even aggrieved by the order of the Appellate Tribunal the Statute under Section 42 of the PML Act provides for an appeal on any question of law or fact to the High Court. Thus, even accepting the version of the petitioner that the impugned order is a non-reasoned order and the Appellate Court would not have the benefit of reasoning before it however such order is also an appealable order and wherein the Appellate Court on .....

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ning in support of order whether judicial/quasi-judicial order is impermissible, the brief reasoning would suffice to meet the ends of justice at least at interlocutory stages and would render the remedy of appeal purposeful and meaningful. - without dwelling into the merits of the matter since the case of the petitioners do not fall in the exceptions as laid down in Whirlpool Corporation (1998 (10) TMI 510 - SUPREME COURT), the writ petitions and applications are dismissed with liberty to the p .....

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et Singh, Mr Biswajit, Mr Indranil Ghosh, Advs. For the Respondents : Mr Navin Chawla, Adv. for R-1 & Mr Shamshuddin, Adv. for ED ORDER Mukta Gupta, J. 1. These writ petitions challenge a common impugned order dated 29th April, 2015 passed by the adjudicating authority under the Prevention of Money Laundering Act, 2002 (in short the PML Act) whereby it was held that the appellants have committed the Scheduled offence, generated 'proceeds of crime' and laundered them, thus the Provisi .....

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nal to be heard by the High Court. Reliance is placed on United Bank of India Vs. Satyawati Tondon & Ors. (2010) 8 SCC 110. 3. The contention of learned counsel for the petitioners is that since the impugned order is without jurisdiction the remedy of filing an appeal under Section 26 PML Act is not an appropriate remedy and the jurisdictional error committed by the adjudicating authority can be corrected only by this Court under Article 226 of the Constitution of India. It is stated that th .....

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holdings of the funds amongst group concerns. 4. Aggregate loss up to financial year 2012-2013 is ₹ 2133.708 crores and group net worth is a negative figure of ₹ 1891.202 as on 31.3.2013. Funds were collected by the group companies by false promise of high returns in various schemes which were apparently was not possible leading to prima facie case that this is the prima facie case of schedule offence. 5. Various schemes were floated which were not permissible under the SEBI/RBI etc .....

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e defendants. 11. Complainant apparently will examine the case thoroughly and see if any other party is also required to be made defendant. If so it will take appropriate action as per law and pass fresh PAO with regard to such other parties. 12. Perusal of the PAO, OC, arguments of both the sides lead to the conclusion that prima facie case for confirmation of PAO is made out. 13. The case is not only for involvement of persons in money laundering process against whom case is filed with the Cou .....

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as prohibited them and now they are not doing so. 18. D-27 has not submitted reply with reference to notice u/s 8(1) on merits. 19. I have gone through the OC along with relied upon documents, PAO, statements recorded under Section 50 of the PMLA, investigation conducted, submissions of complainant & defendants and hold that prima facie case for confirmation of PAO is made out as above. PAO is accordingly confirmed considering over all facts. 20. It is held that the property which has been a .....

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may be; and become final after an order of confiscation is passed under sub-section (5) to sub-section (7) of Section 8 or section 58B or sub-section (2A) of section 60. 21. The Provisional Attachment Order is confirmed accordingly. 22. Conclusion: On a thorough perusal of the PAO, complaint, relied upon documents, the investigations conducted by the ED and the statements recorded u/s 50 of the PMLA and on careful consideration of the arguments advanced on behalf of the complainant & defend .....

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he corresponding law of any other country, before the competent court of criminal jurisdiction outside India as the case may be and become final after an order of confiscation is passed under sub-section (5) to sub-section (7) of section 8 or section 58B or sub-section 2A or section 60." 4. Based on the findings of the adjudicating authority it is stated that the authority was under an obligation to adjudicate i.e. analyze, address and answer with reasons its finding. There is no finding re .....

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of the business of the petitioners. The interim order passed by the Guwahati High Court in W.P.(C) 4298/2013 has attained finality as the Special Leave Petition filed by the Union of India has since been dismissed by the Supreme Court. The second ground for coming to the conclusion of involvement in the offences under PML Act and receiving the proceeds of crime is the FIR in which the complainant is a Police Officer and not an individual. 5. Heard learned counsel for the parties. Section 26 of t .....

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order is also an appealable order and wherein the Appellate Court on appreciation of facts and law can form its opinion. There is no denial that giving reasons is one of the fundamentals of good administration and failure to give reasons amounts to denial of justice. However, it is not a principle of law that if an order of a competent authority is bereft of reasons, the appellate authority is denuded of its statutory jurisdiction to entertain the appeal. However, brevity of reasoning cannot be .....

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the impugned order is without jurisdiction so as to warrant interference by this Court under Article 226 of the Constitution of India. Moreover the view expressed by the Guwahati High Court that the case was not a case of Collective Investment Scheme in relation to the Time Share Scheme is a prima facie view and the Guwahati High Court did not express any definite opinion that it was wholly impermissible for SEBI to pass any restraint order under Regulation 65, pending an enquiry. The case of re .....

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a Police Officer. 7. Learned counsel for the petitioner relies upon the decision in Whirlpool Corporation Vs. Registrar of Trademarks, Mumbai & Ors. (1998) 8 SCC 1 and also the decisions in Harbanslal Sahina & Anr. Vs. IOCL & Ors. (2003) 2 SCC 107; Popcorn Entertainment & Anr. Vs. City Industrial Development Corporation & Anr. (2007) 9 SCC 593; M.P. State Agro Industries Development Corporation & Anr. Vs. Jahan Khan (2007) 10 SCC 88 and Committee of Management & Anr. .....

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In Whirlpool Corporation the Supreme Court was dealing with the jurisdiction of the Registrar Trademarks under Section 56 of the Trade Marks Act (in short the TM Act) and it was held that Section 107 TM Act provides that an application for rectification shall in certain situations be made only to the High Court and thus it was held that the jurisdiction conferred on the Registrar under Section 56 of the TM Act was curtailed by Section 107 of the TM Act. The Supreme Court held that in view of th .....

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