Dove Infrastructure Pvt. Ltd. Vs Assistant Director (Appellate Tribunal Under SAFEMA Delhi)
PMLA Tribunal Upholds Freezing Of Bank Accounts & FDR Linked To Alleged Land Scam; Lien Or Bank Guarantee Not A Bar To Attachment
The Appellate Tribunal under SAFEMA dismissed the appeal filed by M/s Dove Infrastructure Pvt. Ltd. challenging the order confirming the debit freeze of its bank accounts and fixed deposits under the Prevention of Money Laundering Act (PMLA).
The case arose from a land scam investigation where farmers in villages near Manesar, Haryana were allegedly forced to sell land at throwaway prices under threat of government acquisition. The FIR was later investigated by the CBI and revealed alleged proceeds of crime of about ₹160 crore linked to Atul Bansal and related companies.
During the investigation, the Enforcement Directorate conducted searches and issued directions to the bank to freeze three accounts and fixed deposits of the appellant company, as they were suspected to be connected with money-laundering activities.
The appellant argued that:
- The fixed deposit was created from legitimate funds received from third parties.
- The deposit was already under lien for a bank guarantee issued in favour of the Haryana Government’s DTCP, and therefore could not be attached.
- The freezing order was passed without proper enquiry or opportunity of hearing.
Rejecting these arguments, the Tribunal held:
