TMI Blog2012 (2) TMI 658X X X X Extracts X X X X X X X X Extracts X X X X ..... wed subject to all just exceptions. The application stands disposed of. W.P.(C) No.9046/2011 The petitioner, No.1 G4S Cash Securities (India) Pvt. Ltd., is in the business of providing cash management services, vaulting services and secured services for the billion, cash and other valuables. 2. On 12.04.2011, a Van belonging to the petitioner No.1 was searched at Chennai and ₹ 1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ining bank accounts. 4. The petitioner No.1 had filed an application under the first proviso with Section 132B for release of the said cash. It may be noted that the petitioner No.1 claim that it has made payment of an equivalent amount of ₹ 1,18,87,490/- to the Royal Bank of Scotland in terms of the agreement between them and the said Bank. As noted above, it is the contention of the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hose custody the assets were seized: Provided further that such asset or any portion thereof as is referred to in the first proviso shall be released within a period of one hundred and twenty days from the date on which the last of the authorisations for search under section 132 or for requisition under section 132A, as the case may be, was executed;? 6. We may note that the seizure has take ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s stated by the petitioner and the 11 parties are correct and the said cash belongs to the 11 parties and it is not their non-accounted for income. The said 11 customers are not even parties to the writ petition. 7. The inquiry and verification has to be completed within the time fixed in the Act. We hope and trust that respondent-revenue shall conduct the investigation expeditiously and as soo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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