Paridhi Arya
Published on May 30, 2022 at 19:14 IST
Justice Yashwant Varma has passed a stay on an order of Enforcement Directorate (ED) of attaching assets of around 192 Crore Rupees in PACL Chit Fund Scam.
The Bench highlighted the Supreme Court’s order that in case of PACL Scam all recovery of ‘proceeds of crime’ will be considered by Lodha Committee.
Special Procedure is evolved by Supreme Court to consider the money that has been accumulated by the PACL.
The Court pointed out that ED’s order of attachment will contradict the Supreme Court’s special procedure and so this order need to be put on stay, although ED can go before the Lodha Committee or Court officer appointed in this matter, if ED had any information related to PACL Scam.
The ED can also plead to pass any protective order if ED has reason to ask for it from Lodha Committee or Court officer.
Justice Varma was hearing the Petition against the attachment of properties made by ED of DDPL Global Infrastructure Private Limited and another real estate company.
Petitioner was represented in the Court by Senior Advocates- Dr. Abhishek Manu, Singhvi and Dayan Krishnan along with advocates Nitesh Jain, Pallav Shukla, Hriday Khurana, Adrish Guha, Sahil Mendiratta and Sukrit Seth.
Respondent (ED) was represented in the Court by Special Public Prosecutor (SPP) Anupam Srivastava, and Advocates Prakasrsh Airan and Harpreet Kalsi.
