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2017 (12) TMI 1693 - HC - CustomsFreezing of Bank Accounts - conditional/unconditional de-freezing - HELD THAT:- Counsel for the petitioner submits that there has been a change in circumstance as show cause notice under Section 124 of the Customs Act has been issued and it is not alleged that the money in the bank accounts is liable to be confiscated. Notice under Section 121 of the Customs Act has not been issued in respect of the money. In these circumstances, the petitioner contends that the order of seizure of operation of the bank accounts deserves interference. Counsel also relies upon Section 110(2) of the Customs Act. We would like the petitioner herein to first comply with the order dated 16th March, 2017 requiring the petitioner to furnish security for ₹ 10 crores. The said order has not been challenged by the petitioner. Once the said security is furnished, we would consider de-freezing the 43 bank accounts which were subject matter of Writ Petition. Relist on 3rd January, 2018.
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