THE DEPUTY DIRECTOR, DIRECTORATE OF ENFORCEMENT vs JM FINANCIAL ASSET RECONSTRUCTION CO.

Judgment text excerpt

$~12 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 09.02.2026 + MISC. APPEAL(PMLA) 3/2021 & CRL.M.A. 2742/2020 THE DEPUTY DIRECTOR, DIRECTORATE OF ENFORCEMENT .....Appellant Through: Mr.Zoheb Hossain, Spl. Counsel for ED with Mr.Vivek Gurnani, Panel Counsel & Mr.Kartik Sabharwal, Advs. versus JM FINANCIAL ASSET RECONSTRUCTION CO. .....Respondent Through: Ms.Priyal Sarawagi & Mr.Vansh Dhall, Advs. CORAM: HON'BLE MR. JUSTICE NAVIN CHAWLA HON'BLE MR. JUSTICE RAVINDER DUDEJA NAVIN CHAWLA, J. (ORAL) 1. This appeal has been filed under Section 42 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as, the ‘PMLA’), challenging the order dated 30.08.2019 passed by the learned Appellate Tribunal (PMLA) in FPA-PMLA-2751/DLI/2018, titled JM Financial Asset Reconstruction Company Limited v. The Deputy Director, Directorate of Enforcement, Delhi, allowing the appeal filed by the respondent herein, with the following observations and directions:- “51. This order is being passed in relation to mortgage properties in favour of banks which are not purchased from proceeds of crime. The Signature Not Verified Digitally Signed MISC. APPEAL(PMLA) 3/2021 Page 1 of 4 By:REYMON VASHIST Signing Date:12.02.2026 14:27:20 same were purchased and mortgage with the banks prior to the of crime period. ED is not precluded to attach other private properties and all other assets of the alleged accused. 52. It is clarified that this order shall have no bearing in any proceedings initiated against the alleged accused including extradition proceedings pending or proposed to be initiated in any part of the world. Those are to be considered as per law and without any influence of this order which is being passed in the interest of public as bank money is a public money. Mos