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2019 (9) TMI 585

..... contents of the CBI Chargesheet. In the present, very serious issues are involved, those have to be decided legally. We have examined the chart filed alongwith rejoinder as Annexure-A, which highlights the similarities between the Chargesheet, the PAO, the Original Complaint and the Impugned Order. Shockingly, the contents of these documents are almost identical and which evidences that the Respondent No.1 i.e. the author of the PAO and Original Complaint and the AA i.e. the author of the Impugned Order, has not applied his mind. He who passed the order was not the Judicial Member. The order was passed in very casual manner. In serious and complicated issues cut paste of pleadings and documents is not acceptable. It is the approach of claim .....

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..... ed properties (in the form of mutual funds and bank accounts) to the tune of ₹ 21,38,66,041 (Twenty-one crores thirtyeight lacs sixty-six thousand and forty-one] of the Appellant. 2. The Appellant submits that the Impugned Order suffers from serious legal infirmities and for non-application of mind; as the Adjudicating Authority does not deal with the submissions of the Appellant and therefore, lacks a judicial approach as all issues raised in the reply has not discussed and legally decided. The impugned order has been passed in complete violation of the statutory provisions. 3. The attachment of the Appellant s properties, have been vitiated on the ground that the Respondent No.1 has failed to supply its reasons to believe for the is .....

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..... ri Ramachandran Vishwanathan, President & CEO M/s. Devas Multimedia Pvt. Ltd., (c ) Shri M.G. Chandrasekhar, Director M/s. Devas Multimedia Pvt. Ltd. (d) M/s. Devas Multimedia Pvt. Ltd., Bangalore (e ) Shri G. Madhavan Nair, Retired Secretary DoS, Chairman ISRO & Chairman Antrix (f) Shri Veena S. Rama Rao, Then Additional Secretary, DoS (g) Shri A. Bhaskarnarayana, Retired Director, ISRO & Satellite Communication Office (h) Shri D. Venugopal, Director M/s. Devas Multimedia Pvt. Ltd., (i) Shri M. Umesh, Chartered Accountant 6. PMLA Case (a) Statement of Shri K.R. Sridharamurthi, the then Executive Director and Managing Director of ACL was recorded on 20-10- 2015. In the said statement Sri K.R. Sridharmurthi stated his association .....

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..... /- of the subject company. (f) Search was conducted under the provisions of PMLA on the premises of M/s. Devas Multimedia Pvt. Ltd., n 23-1-2017 and certain relevant documents viz., original agreement dated 28-1-2005 between Antrix Corporation Ltd., and Devas Multimedia Pvt. Ltd. Bangalore (DMPL) regarding the leasing of space segment capacity to DMPL, Forex outward remittance documents, Balance Sheets for the years 2011-12 & 2012-13 and other documents were seized. Consequent on search the statements dated 23-1-2017 of Shri Ranganathan Mohan, Director (Finance & HR), Shri Venugopal, Director and Chief Technology Officer, Shri Vinod Sundar Raman, Ex-Company Secretary were recorded under the provisions of PMLA. Further, the statement .....

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..... was issued attaching an amount of ₹ 79,76,00,041/- available as upfront reservation fee with ACL as well as in the form of Mutual Fund Deposits and inter-corporate loan. (l) Aggrieved by the Provisional Attachment Order DMPL filed WP No. 11544/2017 before the Hon ble High Court of Karnataka and the Hon ble High Court in its Order dated 15-3-2017 has ordered that provisional attachment may continue. However, further precipitation cannot be done until the next date of hearing . The Hon ble High Court in its further order dated 10-4-2017 has ordered that, the benefit of the interim observations dated 15- 3-2017 is extended till consideration of this Petition and it is further made clear that keeping in view that the provisional attachmen .....

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..... ng to ₹ 80,50,12,484/- was already taken possession by the Directorate u/s 8(4) of the PMLA. (r ) Further, Prosecution Complaint for offence of Money Laundering u/s 3 punishable u/s 4 of the Act, was filed against DMPL and 9 others before the Hon ble Principal City Civil & Sessions Judge, Bangalor City and Special Court under the Prevention of Money Laundering Act, 2002 on 12-7-2018 and Special CC No. 477/2018 has been allotted to the said case and same was made over to the Hon ble CBI Court/Spl, Court under PMLA, Bengaluru. 7. After completing the formalities, the provisional attachment order was passed which was confirmed by the impugned order dated 11.10.2017. 8. When the appeal was listed for hearing, on the following issues, .....

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..... he approach of claimed that PMLA is an independent proceeding and it has own mechanism to decide the matter on merit. 10. It appears to us that the reply, appellant has put its case in details issue-wise. No doubt, the contents of the reply was re-produced but the said legal issues have not been decided. 11. In the light of above, the impugned order is set-aside on the reason that the impugned order has without assigning any reasons, and much less any legally cogent reasons, independent mind has not been applied. We allow the appeal and the matter is remanded back to Adjudicating Authority for fresh adjudication after considering the reply filed by the appellant to the notice under Section 8 (1) of Act. The Adjudicating Authority shall hear .....

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