LIQUIDATOR Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) This writ petition is filed with following prayer: "To allow the application filed under Sec. 8(7) of the Prevention of Money Laundering Act, 2002 ('the Act' for short) and direct the complainant/ED to release the interest and income accrued and receivable on the attached assets of DMPL worth Rs.79,76,00,311.00 attached vide PAO dtd. 27/2/2017 and Rs.3,10,20,831.00 attached vide PAO No.7 of 2019 dtd. 18/7/2019."

(2.) Shri Dhyan Chinnappa, learned Senior Advocate for the Official Liquidator submitted that the designated Court for the PMLA matters, namely Court No.4, City Civil Court, Bengaluru, is not functioning. He further submitted that the National Company Law Tribunal ('the NCLT' for short), vide order dtd. 25/5/2021 has allowed the petition filed by M/s Antrix Corporation Ltd., to wind up M/s Devas Multimedia Pvt.Ltd. The NCLT has appointed the Official Liquidator attached to this Court to take expeditious steps to liquidate Devas*. The petitioner does not have any money for expenditure to comply with NCLT's order. Therefore, petitioner has filed an application before the designated Court as per Annexure-B with a prayer inter alia to direct the Enforcement Directorate ('ED1 for short) to release the interest and income accrued and receivable on the attached assets of the company. The designated Court is not functioning. In view of the urgency, this Court may consider allowing this writ petition.

(3.) Shri Unnikrishnan, learned CGC for the complainant-ED, has no objection for releasing the interest portion.