9911796707
TMI Blog2024 (10) TMI 224X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant not to dispose of the properties on whose collateral the CC Accounts have been secured. Karnataka Bank is hereby restrained from releasing more credit into the said CC Account. However, the saving and current account will remain frozen till final disposal of criminal trials. However, seeing the fact that prosecution complaint is already filed, the present appellant (if arrayed as an accused) is entitled to the copies of all relied upon documents/seized material and he has right to apply for release of all un-relied documents (if any), if the same are not required for any further investigation. The present appeal is hereby dismissed. - SHRI G.C. MISHRA: MEMBER AND SHRI RAJESH MALHOTRA: MEMBER For the Appellant : Mr. Saurabh Kapoo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from time to time which speaks volume for robust nature of business of the appellant. Ld. Counsel for the appellant submitted that the appellant M/s Golden Processors is neither charge-sheeted for the predicate offence after investigation of the police/CBI, nor it is arrayed as an accused in prosecution complaint under PMLA. He pointed out that Cash Credit account of this company is frozen by respondent ED and hence, the said account could not be operated. He further submitted that there is negative balance in the Cash Credit account and thus, question of freezing this account does not arise. Prayer is accordingly made to allow the present appeal and thereby direct the respondent ED to release the above bank account. 3.On the other hand, L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aka Bank is hereby restrained from releasing more credit into the said CC Account. However, the saving and current account will remain frozen till final disposal of criminal trials. However, seeing the fact that prosecution complaint is already filed, the present appellant (if arrayed as an accused) is entitled to the copies of all relied upon documents/seized material and he has right to apply for release of all un-relied documents (if any), if the same are not required for any further investigation. 5.In sequel to our observation in the preceding para, the present appeal is hereby dismissed. Pending applications, if any, stands disposed of accordingly. It is made clear that nothing expressed herein will affect the merits of prosecution ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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