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Proceedings under PMLA: HC quashes petitions by firms, people on ED action

By Express News Service

BENGALURU: In a setback to a number of corporations and people going through proceedings under the Prevention of Money Laundering Act, the High Court dismissed a batch of petitions filed in opposition to proceedings initiated by the Directorate of Enforcement (ED). Justice Aravind Kumar dismissed the petitions by JSW Steel Limited, Devas Multimedia Private Limited, actual property corporations and an aide of former minister Katta Subramanya Naidu.

“The PML Act would indicate that same was brought to ensure that proceeds of crime are attached, and offenders who participate and assist in the commission of crime do not enjoy benefits of the property which is relatable to the crime. The PML Act envisages attachment of all properties involved in money laundering…,” Justice Aravind Kumar stated, dismissing the petitions.

The petitions have been filed between 2013 and 2018, questioning the ED’s proceedings under the Prevention of Money Laundering Act, 2002. Among a number of petitions, 13 questioned provisional attachment order by ED, 5 have been on info sought from establishments or banks, two in opposition to affirmation order, and constitutional validity of sure sections of the Act. JSW Steel Limited moved courtroom looking for to quash the provisional attachment order handed by ED on March 27, 2015, a grievance dated April 21, 2015, and spot on April 27, 2015. It additionally challenged the provisional attachment order dated March 30, 2016, handed by the ED.

Similarly, Devas Multimedia Private Limited challenged the provisional attachment order handed by ED, subsequent to amending the PML Act of 2013, in 2017. C Mahadesh aka Avva Mahadesh from Mysuru, who’s in jail on prices of homicide, challenged the attachment of his properties. M Gopi, a detailed affiliate of former minister Katta Subramnya Naidu, challenged the discover issued by the ED in 2013. V Bhaskar, accused in a Lokayukta case of extorting authorities officers, sought quashing of possession/ eviction discover dated June 20, 2018, issued by ED to take possession of connected properties.

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