9911796707
TMI Blog2023 (3) TMI 1073X X X X Extracts X X X X X X X X Extracts X X X X ..... iba M. Singh, J. (Oral) 1. This hearing has been done through hybrid mode. 2. The Petitioner - State Bank of India has filed the present petition seeking setting aside of the impugned order dated 22nd December, 2021 passed by the Adjudicating Authority (PMLA). 3. The case of the Petitioner is that it's case has not even been considered by the Adjudicating Authority (PMLA) despite filing a detai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scheduled offences the charge sheet is not filed against the accused named. In view thereof the Director or any other officer not below the rank of Deputy Director authorized by the Director for the purposes of section 5 of PMLA is empowered to issue an order of attachment of property in terms of second proviso under section 5(1) of PMLA. In the present case the Deputy Director has passed the PAOs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present case is that the Deputy Director has entertained the reasonable belief on the basis of material in his possession and secondly whether the reason for such belief are recorded in writing or not. OC-1637/2022 5. COMPLIANCE OF SECTION 5(1):- In the present case, in relation to the scheduled offences the charge sheet is not filed against the accused named. In view thereof the Direc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, the non- attachment of the property is likely to frustrate proceeding under the Act. In the present case there is no dispute as to the authority of the Deputy Director to pass the provisional attachment Order. While examining the compliance of section 5, what is required to be seen in the present case is that the Deputy Director has entertained the reasonable belief on the basis of ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allenge is an Attachment Order which is appealable to the Appellate Tribunal (PMLA). Accordingly, the Petitioner is relegated to the Appellate Tribunal (PMLA) to avail of its appellate remedies before the same. The appeal of the Petitioner shall now be listed and taken up by the Appellate Tribunal, for adjudication in accordance with law. 9. All contentions of the parties are left open. 10. With ..... X X X X Extracts X X X X X X X X Extracts X X X X
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