9911796707
TMI Blog2023 (2) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... 236 of 2022 in W.P.No.25278 of 2022 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... nds and hence, a complaint came to be lodged against them on 25.04.2022 before the CBI and a First Information Report came to be registered in Crime No.RC0692022E0009 for offences u/s.120-B and 420 IPC and Section 13(2), 13(1)(d) of the Prevention of Corruption Act, 1988. 6. The First Information Report that was registered by the CBI was taken note of by the Enforcement Directorate and it was taken up for investigation in ECIR/CEZO-1/45/2022 dated 26.05.2022. 7. A provisional attachment order came to be passed on 30.06.2022 by the first respondent in exercise of powers u/s.5(1) of the PMLA r/w Rule 3 of the PMLA Rules. Thereafter, a complaint came to be filed before the second respondent for the purpose of adjudication u/s.8 of the PMLA a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spondent and the proceedings initiated for confirmation of the provisional attachment order by the second respondent are unsustainable and must be held to be non-est in the eye of law. 10. To substantiate the above submissions, the following judgments were relied upon: (a) Indian Bank, represented by its Chief Manager v. Government of India [2012 (4) CTC 225]; (b)The Government of India v. Indian Bank and another [W.A.Nos.2614 and 2615 of 2022, dated 13.09.2021]; (c) HDFC Bank Limited v. Government of India [CDJ 2021 Bihar HC 249]; and (d)Deputy Director, Directorate of Enforcement, Delhi v. Axis Bank and others [2019 SCC OnLine Del 7854]. 11. Per contra, the learned Special Public Prosecutor appearing on behalf of the Directorate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the latter cannot prevail over the former. There is no inconsistency. The purpose, the Crl.Appeal No.143/2018 & others Page 84 of 105 text and context are different. This court thus rejects the argument of prevalence of the said laws over PMLA." (Para 147, Page - 83) (b) "In view of the conclusions reached as above, rejecting the argument of prevalence of RDBA, SARFAESI Act and Insolvency Code over PMLA, the said laws (or similar other laws, some referred to above) must co-exist, each to be construed and enforced in harmony, without one being in derogation of the other ...." (Para 148, Page - 84) (c) "An order of attachment under PMLA, if it meets with the statutory pre-requisites, is as lawful as an action initiated by a bank or financ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urisdiction. The provisional attachment order has been placed before the second respondent for confirmation u/s.8(3) of the PMLA. The petitioners have also been put on notice by the second respondent and the petitioners have put forward their objections both on facts and on law. The issue as to whether there can be an order of attachment under the PMLA over a property, in which a secured creditor has a prior interest, can always be raised before the second respondent since the second respondent is a quasi judicial authority exercising the powers of adjudication. 17. The alternative remedy is only a self-imposed restriction and it is not an absolute one and in appropriate cases, this Court can exercise its jurisdiction under Article 226 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the PMLA to the Tribunal from where there is a further appeal to the High Court u/s.42 of the PMLA. 19. It is also brought to the notice of this Court that there are conflicting judgments on this issue of various High Courts and a batch of cases filed by the financial institutions/banks are now pending before the Apex Court. Hence, we do not deem it fit and proper to render our findings on the legal issues that have been raised in these writ petitions. If we render any adverse findings on the legal issues that have been put forth before us, it will have a bearing in the adjudication proceedings pending before the second respondent. 20. In the light of the above discussion, we do not find any ground to entertain these writ petitions and w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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