R/SCR.A/16787/2024 ORDER DATED: 29/07/2025 IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CRIMINAL APPLICATION (DIRECTION) NO. 16787 of 2024 With CRIMINAL MISC.APPLICATION (DIRECTION) NO. 1 of 2025 In R/SPECIAL CRIMINAL APPLICATION NO. 16787 of 2024 ========================================================== SANGITA PARESH PAREKH Versus UNION OF INDIA & ORS. ========================================================== Appearance: MR ZUBIN BHARDA for MR RUCHIT J VYAS(10687) for the Applicant(s) No. 1 MR SHUSHIL R SHUKLA(5603) for the Respondent(s) No. 1,2 MS SHRUTI PATHAK, APP for the Respondent(s) No. 3 ========================================================== CORAM:HONOURABLE MR. JUSTICE HASMUKH D. SUTHAR Date : 29/07/2025 ORAL ORDER [1.0] By way of present petition under Article 226 of the Constitution of India, the petitioner has sought for the following relief: “(B) Your Lordships may be pleased to direct the respondent – Deputy Director, Enforcement Directorate, Ahmedabad to substitute the attached property with Bank Guarantee or Fixed Deposits for equal amount alleged to have been laundered by the petitioner company, in the interest of justice and release the attached property;” [2.0] Heard learned advocate Mr. Zubin Bharda for Mr. Ruchit J. Vyas for the petitioner, learned advocate Mr. Shushil R. Shukla for the respondent Nos.1 and 2 and learned APP Ms. Shruti Pathak for respondent No.3 – State of Gujarat. [3.0] Perusing the averments made in the petition, it appears that the R/SCR.A/16787/2024 ORDER DATED: 29/07/2025 petitioner has sought writ of certiorari or mandamus and/or any other appropriate writ, order or direction for staying the operation of the Eviction Notice dated 14.03.2022 passed by the Assistant Director, Direcotrate of Enforcement, Ahmedabad under the Prevention of Money Laundering Act, 2002 and for directing ther respondents not to take any coercive steps against the petitioner in furtherance of the eviction notice dated 14.03.2022 passed by the Adjudicating Authority. [4.0] Pursuant to the Order No.02/2021 dated 12.01.2021, provisional attachment of the properties mentioned in schedule of properties was ordered under Section 5(1) of the Prevention of Money Laundering Act, 2002 which was subsequently confirmed. Paragraph 9.5 of the attachment order reads as follows: “9.5 That out of the proceeds of crime which is at least Rs.6,81,62,810 in the instant case as of now, Rs.4.54 Crore received by Kalpesh Navinchandra Daftary who is the prime accused have been utilized by him in business activities of M/s. Sunkkalp Creation Pvt. Ltd. Thus Kalpesh Navinchandra Daftary has laundered the proceeds of crime to the extent of Rs.4.54 Crore in the manner as aforesaid. The proceeds of crime to extent of Rs.4.54 Crore was utilized by Kalpesh Navinchandra Daftary in his business activities of M/s Sunkkalp Creation Pvt. Ltd. and is not available for attachment. Hence the properties to the extent of Rs.4.54 Crore held in the name of M/s Sunkkalp Creation Pvt. Ltd. as per schedule of properties mentioned below acquires characteristics of proceeds of crime as defined under PMLA, 2002.” R/SCR.A/16787/2024 ORDER DATED: 29/07/2025 [5.0] Learned advocate for the petitioner upon instructions from the petitioner has submitted that in lieu of amount of proceeds of crime to the extent of Rs.4.54 Crore, petitioner is ready and willing to invest Rs.4.54 Crore in Fixed Deposit in substitute of the attached property. [6.0] Learned advocate for respondent Nos.1 and 2 has submitted that petitioner may be directed to invest the amount of proceeds of crime to the tune of Rs.4.54 Crore in Fixed Deposits subject to which the attahced property can be released. [7.0] Having heard learned advocates appearing for the respective parties and as the request made by the learned advocate for the petitioner is permissible under Rule 5(5) of the Prevention of Money Laundering (Taking Possession of Attached Or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013, which reads as under, petition deserves consideration. “5. Manner of taking possession of immovable property.- (1) … (2) … (3) … (4) … (5) Where the immovable property confirmed by the Adjudicating Authority is in the form of a land, building, house, flat, etc. and is under joint ownership, the authorized officer may accept the equivalent value of fixed deposit to the extent of the value of the share of the concerned person in the property estimated by the authorized officer, to be involved in money laundering;” [8.0] In view of above, petitioner is permitted to deposit Rs.4.54 R/SCR.A/16787/2024 ORDER DATED: 29/07/2025 Crore in Fixed Deposits in lieu of amount of proceeds of crime and respondent Nos.1 and 2 are directed to accept the said Fixed Deposits and release the property owned by Sankkulp Creation Pvt. Ltd. being Commercial Premises, situated at 1st Floor, Sonbar Building, Plot No.13, Ashok Nagar Co-op. Housing Society Ltd., NS Road No.10, JVPD, Ville Parle (W), Mumbai – 400 049. [9.0] With aforesaid direction, present petition is disposed of. It is made clear that this Court has not examined the merits of the case. [10.0] In view of disposal of Special Criminal Application No.16787/2024, Criminal Misc. Application (Direction) No.1 of 2025 in Special Criminal Application No.16787/2024 also stands disposed of. (HASMUKH D. SUTHAR, J.) Ajay Original copy of this order has been signed by the Hon'ble Judge. Digitally signed by: AJAY CHANDRAN MENON(HC00939), PRINCIPAL PRIVATE SECRETARY, at High Court of Gujarat on 29/07/2025 17:25:22