{"id":76693,"date":"2024-06-19T19:53:22","date_gmt":"2024-06-19T19:53:22","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/19\/delhi-hc-permits-exchange-of-property-attached-by-ed-with-a-security-of-equal-amount\/"},"modified":"2024-06-19T19:53:22","modified_gmt":"2024-06-19T19:53:22","slug":"delhi-hc-permits-exchange-of-property-attached-by-ed-with-a-security-of-equal-amount","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/19\/delhi-hc-permits-exchange-of-property-attached-by-ed-with-a-security-of-equal-amount\/","title":{"rendered":"Delhi HC permits exchange of property attached by ED with a security of equal amount"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i3.wp.com\/img.etimg.com\/photo\/msid-111120559,imgsize-44238.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Delhi HC permits exchange of property attached by ED with a security of equal amount\" title=\"Delhi HC permits exchange of property attached by ED with a security of equal amount\" \/><\/div>\n<div data-brcount=\"12\">The <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/delhi-high-court\" target=\"_blank\" rel=\"noopener\">Delhi High Court<\/a> earlier this month permitted a company accused of involvement in the <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/coal-allocation-scandal\" target=\"_blank\" rel=\"noopener\">coal allocation scandal<\/a> to substitute its property attached by the <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/enforcement-directorate\" target=\"_blank\" rel=\"noopener\">Enforcement Directorate<\/a> (ED) with a security of equal amount.<\/p>\n<p><!--\/article_liveblog.cms?msid=105115637&pos=toppotime:3-->The federal agency during its probe related to the infamous coal scam case had provisionally attached and seized the land M\/s Revati Cements Pvt Ltd.<\/p>\n<p>The said land in Madhya Pradesh was the proposed site for construction of a <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/mega-cement-plant\" target=\"_blank\" rel=\"noopener\">mega cement plant<\/a>. With the <a data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/probe-agency\" target=\"_blank\" rel=\"noopener\">probe agency<\/a> attaching the land, the project development was halted. <\/p>\n<p>Revati Cements moved the Delhi High Court, saying this resulted in huge losses for the company and seeking that the said attachment be substituted with a bank guarantee\/FDR of the equivalent amount.<\/p>\n<p>Appearing on behalf of the company, advocate Vijay Aggarwal contended that no prejudice will be caused to the ED if the attached land is substituted by a liquid security.<\/p>\n<p>Finding force in his submissions, Justice Sudhir Kumar Jain held that the claim of petitioner company is legally justified and supported by various decisions of the Supreme Court and High Courts including the Delhi High Court. The court ordered that the attached property shall be substituted with a bank guarantee of equivalent amount.<!--\/article_liveblog.cms?msid=105115637&pos=botpotime:1--><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/delhi-hc-permits-exchange-of-property-attached-by-ed-with-a-security-of-equal-amount\/articleshow\/111120559.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Delhi High Court earlier this month permitted a company accused of involvement in the coal allocation scandal to substitute its property attached by the Enforcement Directorate (ED) with a security of equal amount. The federal agency during its probe related to the infamous coal scam case had provisionally attached and seized the land M\/s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":76694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-111120559,imgsize-44238.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[20668,14731,69378,2921,2446,1837,6063,3907,69380,38490,22705,6703,2441,69379],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/76693"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=76693"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/76693\/revisions"}],"predecessor-version":[{"id":76695,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/76693\/revisions\/76695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/76694"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=76693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=76693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=76693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}