HANSRAJ HARIRAM KOTHARI PROPERTY Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. With the consent of the parties taken up for final disposal.

(2.) The Petitioners are the owners of the property "Hari Niwas" situated at 19, Mathew Road, Opera House, Mumbai - 400 004 which is in dilapidated condition (hereinafter referred to as the "subject property") . It has two wings consisting of 5 floors having 18 residential tenements and also three shops. Out of the residential tenements, the Transferable Tenancy Rights in two flats of two tenants, who have been made accused by the Enforcement Directorate in ECIR No.AMZO/03/2017 registered on 12/6/2017 in the matter of complaint against M/s.ABC Cotspin Pvt. Ltd. and others under Sec. 120(B) r/w Sec. 420 of IPC and Sec. 13(2) r/w 13(1)(d) of Prevention of Money Laundering Act, 2002, were provisionally attached vide (PAO) No.04/2022 dtd. 10/6/2022 passed by Enforcement Directorate on the allegation that these flats were taken on rent from the funds which were forming part of the proceeds of the crime. The Provisional Attachment Order came to be confirmed by the adjudicating authority by its order dtd. 2/10/2022.

(3.) The learned counsel for the Petitioners submits that the subject property is in extremely dilapidated condition and it is required to be redeveloped without any further loss of time but the Petitioners are unable to do so on account of the attachment of Transferable Tenancy Rights in respect of the said two flats by the adjudicating authority in the aforestated crime.