Nimrita Parvinder Singh Vs Directorate of Enforcement (Delhi High Court)
Delhi High Court held that application for de-freezing bank account frozen under the Prevention of Money Laundering Act, 2002 [PMLA] cannot be permitted since the same would risk directly undermining the objectives and framework of the PMLA.
Facts- The present applications are preferred under Section 151 of the Code of Civil Procedure, 1908, by the Appellants/Applicants, seeking directions in view of the continued freezing of their movable assets and bank accounts pursuant to proceedings initiated under the Prevention of Money Laundering Act, 2002. The Applicants, through separate applications founded on largely overlapping grounds, seek similar reliefs. The Appellants submit that they have an immediate financial requirement estimated at approximately Rs. 5 crores each [Approximately Fifteen (15) Crores in total], which, it is claimed, is essential to meet expenses relating to higher education, career advancement, and day-to-day sustenance.
Conclusion- It is important to underscore that the freezing of the Applicants’ properties by the ED has already been confirmed by the learned Adjudicating Authority under Section 8(3) of the PMLA, and this confirmation has been upheld by the learned Appellate Tribunal in the impugned order.
Held that if this Court concludes that the properties are indeed tainted, permitting the release of substantial funds now, would risk directly undermining the objectives and framework of the PMLA.
