TMI Blog2015 (9) TMI 1252X X X X Extracts X X X X X X X X Extracts X X X X ..... . A perusal of the same would disclose that though there is no specific provision for moving an application for stay, in the considered opinion of the Court, the Statutory Appellate Authority is having an inherent power to decide the application for stay pending disposal of the appeal, also, or he can take the appeal itself and dispose of the same finally, within six months from the date of filing of the appeal, in terms of Sub-Section (6) of Section 26 of the said Act. The writ petition is disposed of and the petitioner and other appellants are at liberty to move the appeal filed by them before the Appellate Authority, for hearing and disposal, or in the alternative, move an application for stay pending disposal of the appeal, within a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arrived at a prima facie conclusion that the above said persons have committed the Scheduled Offences, generated proceeds of crime and laundered them and further, that the properties attached, are proceeds of crime or value thereof, and are involved in money laundering and by citing the said reasons, the said Authority has confirmed the Provisional Attachment Order and also indicated that the order shall continue during the pendency of the proceedings relating to any offence under the Money-Laundering Act before the Court or under the 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) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been paid and till the appeal is taken up for hearing, further proceedings pursuant to the impugned notice dated 26.2.2015, issued by the second respondent, may be stayed. 7. Per contra, Mr.M.Dhandapani, learned Counsel, who accepted notice on behalf of the respondents, has invited the attention of this Court to Section 8(4) of the Money-Laundering Act and would submit that where the provisional order of attachment made under Section 5(1), has been confirmed under Sub-Section (3), the Director or any other officer authorised by him in this behalf, shall forthwith take possession of the attached property and in exercise of the said power only, the impugned notice came to be issued by the second respondent and would further submit that it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority is having an inherent power to decide the application for stay pending disposal of the appeal, also, or he can take the appeal itself and dispose of the same finally, within six months from the date of filing of the appeal, in terms of Sub-Section (6) of Section 26 of the said Act. 12. In the result, the writ petition is disposed of and the petitioner and other appellants are at liberty to move the appeal filed by them before the Appellate Authority, for hearing and disposal, or in the alternative, move an application for stay pending disposal of the appeal, within a period of four weeks from the date of receipt of a copy of this order and till such time, the second respondent shall defer the proceedings of the impugned notice d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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