63 MOONS TECHNOLOGIES LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Appellant has impugned the Order dtd. 17/9/2019, passed by the Appellate Tribunal for SAFEMA, FEMA, NDPS, PMLA and PBPT Act, at New Delhi in MP-PMLA-4694/MUM/2018 (Misc.) and other connected Applications/proceedings therein.

(2.) Appellant is principally aggrieved with the directions issued by the Appellate Tribunal, directing the Appellant to furnish indemnity bond for a sum of Rs.1095,27,17,055.00 alongwith an undertaking that, if upon the conclusion of the trial and final adjudication it is found that the attached movable property constitutes proceeds of crime (PoC), the Appellant shall deposit the said amount with the Respondent No.1 namely the Union of India through the Deputy Director, Directorate of Enforcement, PMLA, Mumbai. The Tribunal further directed that, such undertaking be filed within one month from the date of the Judgment. It was also held that, subject to compliance with the aforesaid two conditions, the provisional attachment Order issued by the Respondent No.1 would stand quashed qua the Appellant and all its movable properties, namely DEMAT Account and investment in bonds would stand released. In addition, the Appellate Tribunal also granted liberty to the Appellant to seek review before the Tribunal itself or to move the Special Court for modification/vacation of the interim directions, in the event the two orders passed by the Company Law Board ('CLB') and Economic Offence Wing ('EOW') were vacated.

(3.) Criminal Appeal (ST) bearing No.139 of 2020, has been preferred by the Deputy Director, Directorate of Enforcement, Mumbai, challenging the same Judgment and Order. For the sake of convenience, the Directorate of Enforcement is hereinafter referred to as Respondent No.1.