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The Delhi High Court has restrained the Enforcement Directorate (ED) from taking coercive steps on properties worth Rs 127 crore it had attached from Rana Kapoor's Group of Compes until an appellate tribunal - which is currently non-functional.The Bench of Rekha Palli in an order passed on November 17, 2021 "directed that till the petitioner's pending appeal and stay application are taken up for consideration by the Tribunal as and when it becomes functional, both sides will maintain status quo qua the subject matter of the order dated 22.03.2021. Consequently, the respondents will stand restrained from taking any action against the petitioner in pursuance of the impugned order till then."The court has further restrained daughters of Rana Kapoor namely Roshini Kapoor, Radha Kapoor Khanna and Raakhe Kapoor Tandon who are 100 per cent shareholders of the company M/s DOIT Creations Jerseys Ltd from creating any third-party rights in the said property till the Prevention of Money Laundering (PMLA) Appellate Tribunal becomes functional and takes up the matter.ED had in September 2020 attached property worth Rs 127 crore belonging to Kapoors in connection with an alleged Rs 17000-crore Yes bank fraud case. An adjudicating authority upheld the provisional attachment on March 23, 2021.One of Kapoor's compes moved to the Delhi High Court last week, contending that the company had filed an appeal against the authority's order in the PMLA Appellate Tribunal. But the appeal is not being taken up for consideration since the appellate tribunal is "not functional for want of quorum", advocate Vijay Aggarwal along with Adv Mudit Jain appearing for the Kapoors told the court on behalf of the company.The appellate tribunal is not functioning since April 4 when its acting chairman had retired, the court was told, there are several cases pending before the Appellate Tribunal.The company expressed apprehension that ED may take "coercive steps" in furtherance of the order of the adjudicating authority. There are several cases pending against the Kapoors for bank fraud and their appeals are also pending before the Appellate Tribunal.Looking at the facts and circumstances as the appeal will not be heard as the Appellate Tribunal nonfunctional, Delhi High Court in form of an interim order directed the parties to maintain the status quo on the said property."Consequently, not only will ED stand restrained from acting in furtherance of the order, but the petitioner will also stand restrained from creating any third-party rights in subject properties, which form part of the attachment order, till the appeal is taken up for consideration by the tribunal," said the court.Advocate Amit Mahajan appearing for ED did not dispute the fact that the tribunal is presently not functional, the court recorded in its order.The properties of Kapoor that ED had attached last year included a house in London worth Rs 127 crore.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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The Delhi High Court has restrained the Enforcement Directorate (ED) from taking coercive steps on properties worth Rs 127 crore it had attached from Rana Kapoor's Group of Companies until an appellate tribunal - which is currently non-functional. ...