9911796707
TMI Blog2023 (5) TMI 1196X X X X Extracts X X X X X X X X Extracts X X X X ..... properties or in the alternative to issue writ of Mandamus directing the respondent to release the attached property No.4 i.e. Ac. 6-00 situated at Sy. No.376/2 Alamur Village, Anantapur in substitution for the petitioner furnishing security in the form of a fixed deposit for the value of Rs.10,00,000/- (Rupees ten lakhs only). 2. Several contentions were raised in the writ petition questioning the Provisional Attachment Order, show cause notice and original Complaint being devoid of merits and outcome of irrational thought process and illogical analysis that the amount received by the petitioner from M/c. C.Gopal Reddy & Co. falls within the ambit of proceeds of crime, despite the fact that the same was received as a lawful consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osit for Rs.10,00,000/- in substitution for release of the same in favour of the joint-owner and the bona fide third party purchasers. The learned counsel for the petitioner would further submit that, no notices were issued to the owners of the plots as required under Section 8(2) of the PML Act. Hence, prayed to allow the writ petition granting the alternative relief. 6. On the other hand, Sri Josyula Bhaskar Rao, learned Standing counsel, would submit that, the PML Act did contain in-built checks and balances and provides for various safeguards within itself. After provisionally attaching the properties, Original Complaint vide OC NO.1935 of 2023 was filed before the Adjudicating Authority on 12.04.2023 under Section 5(5) of the PML Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner has restricted his submissions seeking alternative relief alone, this Court feels it unnecessary to delve into the various other aspects raised by both the learned counsel. 8. The alternative relief claimed by the petitioner is to release attached property No.4 in substitution of the petitioner furnishing security in the form of fixed deposit for the value of Rs.10,00,000/-. 9. Amongst the properties attached, item No.4 is land at Sy.No.376/2, Alamur Village, Anantapur . The value of the said property was estimated therein at Rs.10,00,000/- (Rupees ten lakhs only) and the petitioner is shown as its owner. 10. The learned counsel for the petitioner placed reliance on the orders dated 28.11.2022 passed in I.A.Nos.1,2 and 3 in I.A.No.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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