2025 (4) TMI 1398

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....t ('ED', for short) to the HDFC Bank, by invoking sub-section (4) of Section 8 of the Prevention of Money-Laundering Act, 2002 ('PMLA 2002', for short) in relation to three Fixed Deposits in the name of M/s. Golden Peace Hotels and Resorts Pvt. Ltd. (petitioner in Writ Petition No. 703/2024) and M/s. Golden Peace Infrastructure Private Ltd. (petitioner in Writ Petition No. 702/2024). 2. By a communication issued by the ED, the Bank is informed that the original complaint dated 06.03.2024 was filed before the adjudicating Authority under PMLA to confirm attachment effected on 06.02.2004 and on 30.07.2024 the adjudicating Authority confirmed the provisional attachment of the properties and has ordered that the attachment shall continue durin....

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....d. Various FIRs were filed against Mr Ebin Varghese between 2020 and 2022 and this resulted in conducting the raid on the hotel of the petitioner, resulting in freezing of the FDs. This order is confirmed by the adjudicating Authority against which the petitioner has preferred an appeal before the Appellate Tribunal, which is pending. 4. The respondent no. 2 had passed a provisional attachment order on 06.02.2024 pursuant to which the FDR was attached and it is not disputed by Mr Rao that the adjudicating Authority has confirmed this order. He would, however, call in question the power to seek transfer of the amount in the Fixed Deposits along with interest in the name of the Enforcement Director. 5. We have perused Section 8 of the PML....

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....ttachment made under sub-section (1) on being confirmed, the Director or any other officer authorised by him in this behalf shall forthwith take possession of the property attached under Section 5 or frozen under sub-section 1-A of Section 17, in such manner as may be prescribed. 7. In addition, it is also to be noted that sub-clause (b) of sub-section (3) of Section 8, clearly provide that the order passed by the adjudicating Authority shall become final after an order of confiscation is passed under sub-section (5) or sub-section (7) of Section 8 by the Special Court. It is only on conclusion of a trial when the special Court finds that an offence of money laundering has been committed, it shall then order that such property involved or ....