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2022 (4) TMI 1586 - HC - Money LaunderingSeeking direction to the respondent to release the Fixed Deposits encashed by and lying in the possession of the respondent - Bank Guarantee - proceeds of crime or not - HELD THAT:- It is stated that the petitioner had already furnished Bank Guarantees to the respondent by way of letter in the year 2019 itself, but the same has not been considered till date by the respondent and that it cannot keep both FDRs and Bank Guarantee with it, as such, the respondent is liable to accept the Bank Guarantee furnished by the petitioner. Application is allowed directing the respondent to accept the Bank Guarantee furnished by the petitioner in lieu of Fixed Deposits by releasing the same in favour of petitioner pending appeal.
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