The Telangana High Court on Tuesday upheld the Enforcement Directorate provisionally attaching the properties of the Karvy Stock Broking Ltd group companies, and its approval by the ED’s Adjudicating Authority (ED-AA). A bench of Chief Justice Alok Aradhe and Justice Anil Kumar Jukanti set aside the single judge orders which had quashed the ED-AA’s orders confirming the attachment. 

The single

judge had ruled on the technical ground that the ED-AA which consisted of a single member, who was not a judicial member, cannot pass an order of attachment. On the ED’s appeal, the bench said that it was a settled rule that powers under Section 6 of the Prevention of Money Laundering Act can be exercised by an adjudicating authority comprising a single member.

No Comments For This Post, Be first to write a Comment.
Leave a Comment
Enter the code shown:

Can't read the image? click here to refresh

Todays Epaper

English Weekly

neerus indian ethnic wear

Do you think Ruturaj Gaikwad would be a good captain for Chennai Super Kings?

Can't Say