M/S Quantum Global Securities Limited v. The Deputy Director

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 10.06.2024 CORAM :

THE HON'BLE MR. JUSTICE M.S.RAMESH AND THE HON'BLE MR.JUSTICE SUNDER MOHAN

1. M/s.Quantum Global Securities Limited, Rep. by Shri Bhavesh Kumar Singh, registered office at No.608, Pragati Bhawan, New Delhi 110008.

and having Corporate Office at Thakur House, Kandivali East, Mumbai - 400 101.

2. Atul Malik

3. Bhavesh Kumar Singh

...Petitioners

vs.

1. The Deputy Director, Enforcement Directorate, Chennai, Chennai Zonal Office - I, No.3 & 4, Murugesa Naicker Office Complex, 84, Greams Road, Thousand Lights, Chennai - 06.

[ECIR/CEZO-I/17/2020]

...Respondents

Writ Petition filed under Article 226 of the Constitution of India, praying for issuance of a Writ of Certiorarified Mandamus, calling for the records of the respondent in PAO No.04/2023 dated 19.04.2023 passed by the respondent and confirmed by the Adjudicating Authority in OC 1975/2023 dated 09.10.2023 and quash the same and consequentially direct the respondents to lift the attachments over the Schedule-I mentioned Immovable properties, Schedule-II mentioned moveable properties such as the DP Accounts and further return the Schedule-IV mentioned cash amount of Rs.14,00,000/- seized from the 2nd petitioner's residence to the 2nd petitioner.

For Petitioners ::

Mr.T.N.C.Kaushik For Respondent ::

Mr.Cibi Vishnu Special Public Prosecutor

ORDER

(Order of the Court was made by M.S.RAMESH,J.) Admittedly, the F.I.R for the predicate offence against these petitioners (Crl.O.P.No.23607 of 2019), was quashed by this Court in Crl.O.P.Nos.30980 of 2019 etc. batch vide order dated 10.05.2023. As against the order passed by this Court, the same was taken up on appeal before the Hon'ble Supreme Court in SLP (Crl.) Diary No.51394 of 2023,

which was also dismissed on 02.02.2024 and as such the criminal case registered against the petitioners herein has reached its finality. Subsequently, the ECIR recorded by the respondent was also quashed by this Court vide order dated 12.12.2023 in WP.No.10901 of 2023 etc. batch.

2. Since the ECIR proceedings and the F.IR. for the predicate offence have been quashed, the respondent cannot proceed with the impugned PAO.No.04/2023 dated 19.04.2023.

3. Accordingly, this Writ Petition stands allowed and the proceedings of the respondent in PAO.No.04/2023 dated 19.04.2023, is hereby quashed. Consequently, the respondent herein shall release the petitioners' properties from attachment and return the seized cash forthwith, in any event, within a period of two weeks from the date of receipt of a copy of this order. No costs.

(M.S.R.,J.) (S.M.,J.) 10.06.2024 ars

Internet : Yes Index : Yes / No

M.S.RAMESH,J.

AND SUNDER MOHAN,J.

ars To

1. The Deputy Director, Enforcement Directorate, Chennai, Chennai Zonal Office - I, No.3 & 4, Murugesa Naicker Office Complex, 84, Greams Road, Thousand Lights, Chennai - 06.

2. The Public Prosecutor, High Court, Madras.

10.06.2024