Saturday, 22 August 2015

SC stays ED order attaching Sun TV’s assets in Aircel-Maxis case

The Supreme Court on 21 August stayed the Enforcement Directorate (ED) from provisionally attaching Sun TV Networks’ assets worth Rs742 crore in the Aircel-Maxis deal case.
The ED had on April 1, 2015 attached assets estimated at Rs. 742.58 crore held by the former Telecom Minister, Mr. Kalanithi Maran and his wife Kaveri Kalanithi in the Aircel-Maxis deal case.
A Bench of Chief Justice HL Dattu and Justice Amitava Roy, however, clarified that the period of 180 days stipulated under the Prevention of Money Laundering Act to conclude proceedings to attach assets after issuance of a notice, will not expire during the pendency of the present plea of Sun TV.
“In view of the last order passed by this court, the provisional attachment process will not expire after the conclusion of 180 days,” it said.
Senior advocate Anand Grover, appointed by the apex court as special prosecutor to conduct 2G trial, said he had “no problem” with the staying of proceedings and the Bench should only specify that the statutory period of 180 days does not expire due to the stay.
The Sun TV, represented by senior advocate Abhishek Manu Singhvi and Sumesh Dhawan, had earlier approached the Supreme Court against a Madras High Court order refusing to hear their plea against the provisional attachment on the grounds that the case was linked to the 2G spectrum scam.
Sourcehttp://cablequest.org/index.php/news/legal-news/item/7750-sc-stays-ed-order-attaching-sun-tv%E2%80%99s-assets-in-aircel-maxis-case

Source: http://cablequest.org/index.php/news/legal-news/item/7750-sc-stays-ed-order-attaching-sun-tv%E2%80%99s-assets-in-aircel-maxis-case

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