Delhi High Court - Orders
V D Aggarwal & Ors vs Directorate Of Enforcement Through Its ... on 24 August, 2020
Author: Vibhu Bakhru
Bench: Vibhu Bakhru
$~9
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(CRL) 321/2019 & CRL. M.A.2232/2019,
CRL. M.A. 10822/2020
V D AGGARWAL & ORS ..... Petitioners
Through Mr Rahul Gupta, Advocate with
Mr Shekhjar Gupta & Mohd Shahbaz,
Mr Shourya Gupta, Advocates.
versus
DIRECTORATE OF ENFORCEMENT
THROUGH ITS ASSISTANT DIRECTOR
& ANR ..... Respondents
Through Mr Amit Gupta, APP for State.
Mr Sachin Jain, Advocate for R2 with R2 in
person.
Mr Amit Mahajan, CGS for Respondent (ED).
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
% 24.08.2020 [Hearing held through videoconferencing]
1. The petitioners have filed the present petition, inter alia, praying as under:-
"The proceedings initiated by the Directorate of Enforcement, Department of Revenue, Ministry of Finance, Government of India against the petitioners under the provisions of Prevention of Money Laundering Act, 2002, vide proceedings bearing F. no. ECIR/102/DLZOII/ 2009/AD/RV; and also quash all the all proceedings emanating thereafrom be Signature Not Verified Signed By:DUSHYANT RAWAL Location: Signing Date:25.08.2020 12:37:55 quashed."
2. The said ECIR was registered puruant to the FIR No. 12/2008 under Sections 409/420/467/468/471/477A/120B Indian Penal Code registered at P.S. EOW.
3. The said FIR (FIR no. 12/2008 with PS EOW) was registered at the instance of one Mr Satish Kumar Jain. He had alleged that his daughters were cheated and unauthorised and illegal transactions were reflected in their trading account maintained with Abhipra Capital Ltd. (ACL)
4. Whilst Mr jain and his daughters disputed the said transactions, ACL instituted arbitral proceedings for reovery of its claims. The arbitration proceedings have fructified in arbitration awards in favour of ACL (petitioner no.3).
5. The subject disputes have since been settled between the concerned parties. The said FIR ( FIR no.12/2008) has been quashed in terms of the order dated 24.08.2020 passed in Crl. M.C. 953/2019.
6. Since the controversies between the parties have been resolved, there is no question of existence of any proceeds of crime.
7. Mr Mahajan, learned counsel appearing for the respondent also does not dispute the same.
8. In view of the above, the present petition is allowed. The proceedings initiated by the Directorate of Enforcement, Department of Revenue, Ministry of Finance, Government of India against the petitioners under the Signature Not Verified Signed By:DUSHYANT RAWAL Location: Signing Date:25.08.2020 12:37:55 provisions of Prevention of Money Laundering Act, 2002, vide F. No. ECIR/102/DLZOII/ 2009/AD/RV; and all proceedings emanating thereafrom, are quashed.
9. All pending applications are also disposed of.
VIBHU BAKHRU, J AUGUST 24, 2020 pkv Signature Not Verified Signed By:DUSHYANT RAWAL Location: Signing Date:25.08.2020 12:37:55