The Supreme Court has recently observed that the High Court’s order of setting aside the order of provisional attachment does not as such nullify the proceedings of adjudication as under the PMLA or in other words, Prevention of Money Laundering Act, 2002 and it also stated that the Adjudicating Authority could proceed for taking it to what they believed its logical end is, in accordance with the law.
In simple words, the fact that the petitioner had succeeded in persuading the High Court to come to the decision to quash the provisional attachment order that was passed by the appropriate authority as under Section 5(1) of the Act, would in no way impact the adjudication process initiated before the adjudicating authority, which must proceed on its own merits as according to law.
While dismissing the Special Leave Petition the bench had said, that in their opinion, the challenge to the order as passed by the High Court was to send the matter back to the appropriate authority in order to pass a fresh order, as unexceptionable.
