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2021 (5) TMI 492 - HC - Indian LawsFreezing of Bank Accounts of petitioner - online gambling - shell companies - HELD THAT:- Initially the Investigating Officer has opposed defreezement of the account on the ground that the petitioner has not co-operated with the Investigating Officer by furnishing information and documents as sought by him in concluding investigation in Crime No.1432 of 2020. During pendency of the present petition and also in view of the orders passed by this Court, the petitioner herein has co-operated with the Investigating Officer by furnishing the information and documents as sought by him. Thus, the Investigating Officer has completed investigation and filed charge sheet. But, the learned Public Prosecutor did not file copy of the said charge sheet in the present criminal petition. Considering the said aspects, according to this Court, no useful purpose would be served in continuation of freezing of account of the petitioner company. According to this Court, the relief sought by the petitioner in defreezement of its account can be considered on imposition of certain conditions. In the latest written instructions, the Investigating Officer mentioned that they have already completed investigation and filed charge sheet in the said crime. It is found that multiple purchase orders were mentioned which belong to Indian Companies across India. The credentials of all the said companies need to be verified - It is also relevant to mention that during the course of arguments, the learned Public Prosecutor has submitted that at the address of the petitioner company mentioned by it in the ROC records, which is in the State of Maharashtra State, it was locked and there is no one including Director or responsible person to cooperate with Investigating Officer by furnishing the information and documents to conclude the investigation. Admittedly, the account of the petitioner which was freezed is in HSBC, Gurugram. In the event of defreezing the said account of the petitioner without any condition, it would be difficult for the police or trial Court to take further steps in accordance with law since the police have to verify the credentials of the said companies including the petitioner company and several other crimes registered by the police with regard to the very same online betting are pending investigation. Therefore, this Court is inclined to impose certain conditions while considering the relief sought by the petitioner to defreeze its account. Criminal Petition is allowed.
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