In his interim order, Justice Yashwant Varma said that as per the Supreme Court’s orders, recovery of “proceeds of crime” connected with the affairs of PACL is to be considered by the Lodha Committee and all claims pertaining to the moneys gathered by PACL is to be considered as per the special procedure evolved and put in place by the Supreme Court.
Therefore, the court said, the present provisional order of attachment by the ED cannot sustain since it has the potential to short circuit the special procedure laid in place by the Supreme Court.
It added that the present interim order will not preclude the ED from approaching the Lodha Committee or the court appointed officer and bring to their attention any information they may have gathered during investigation or from seeking further protective orders as may be warranted.
Source: Barandbench
