Excelsior Correspondent
JAMMU, Sept 13: High Court has restrained the Enforcement Directorate from implementing the order passed under the provisions of Prevention of Money Laundering Act, 2022 as also the Provisional Attachment order against Suresh Rekhi, the then Deputy General Manager of Jammu and Kashmir Project Construction Corporation Limited.
Rekhi and his wife challenged the order dated August 25, 2022 passed by the Adjudicating Authority as also the Provisional Attachment Order dated January 31, 2022 passed under Section 5(1) of the Act on the ground that the impugned order dated August 25, 2022 has been passed after the expiry of 180 days from the date of passing of Provisional Attachment Order.
Adv Ayushman Kotwal appearing for the petitioners submitted that as per Section 5(3) of the PMLA, the Provisional Attachment Order passed under Sub-Section (1) ceases to have effect after the expiry of 180 days and in this case, the Adjudicating Authority has taken the shield behind the order passed by the Supreme Court.
He further submitted that the reliance placed by the Adjudicating Authority on the order of the Supreme Court is misplaced because the extension of the period of limitation has been granted in terms of the order only in respect of institution of proceedings and not in respect of termination of the proceedings.
After hearing counsel for the petitioner, Justice Sanjay Dhar directed that till next date of hearing no further action shall be taken by the respondents against the petitioners on the basis of the impugned order dated August 25, 2022.
Trending Now
E-Paper
Follow our WhatsApp channel