Case Laws
Acts
Notifications
Circulars
Classification
Forms
Manuals
Articles
News
D. Forum
Highlights
Notes
🚨 Important Update for Our Users
We are transitioning to our new and improved portal - www.taxtmi.com - for a better experience.
⚠️ This portal will be fully migrated on 31-July-2025 at 23:59:59
After this date, all services will be available exclusively on our new platform.
If you encounter any issues or problems while using the new portal,
please let us know
via our feedback form
, with specific details, so we can address them promptly.
Home
2020 (9) TMI 1030 - HC - Money LaunderingProvisional attachment order - assets in respect of which the said attachment order has been passed are certain fixed deposits - said fixed deposits are currently lying with the HDFC Bank - HELD THAT - In the peculiar facts and circumstances of this case where the amount if frozen or attached would continue to remain under the custody of the ED this Court deems it appropriate to direct the said amount of Rs. 42, 85, 32, 698.63/- from the provisionally attached bank account to be transferred to the account of the NHB by the HDFC Bank. Remaining amounts provisional attachment order shall continue and the Petitioner would be free to agitate its pleas before the Adjudicating Authority under the PMLA. Payment to the NHB shall be a pro-tem measure in the peculiar facts and shall abide by the final orders of the Adjudicating Authority. If the Adjudicating Authority finally determines that the said amount ought to be paid back to the ED the NHB shall abide by the said order and shall re-deposit the said amount within a period of six weeks after the passing of the order by the Adjudicating Authority subject to any orders passed by a superior court/tribunal. If refund is ordered by the adjudicating authority no interest shall be payable by the NHB. Only the principal amount which is being transferred from the HDFC Bank to the NHB would be liable to be put back into the ED s account. Amount received from the HDFC Bank shall be credited by the NHB in the account of the Petitioner and if the Adjudicating Authority passes an order for re-deposit of the amount the same shall be debited from the Petitioner s account.
|