2024 (1) TMI 1289 - HC - Money Laundering

Court Orders Land Release with Fixed Deposit Requirement Until Trial Ends.

The Petitioner sought the release of 12.475 acres of land under provisional attachment. The Delhi HC directed the Petitioner to provide a Fixed Deposit ... Seeking release of attached land - also seeking to accept an alternate security, which according to the Petitioner is the value of the attachment attributable to the said land - HELD THAT:- It is pertinent to mention herein that the land in question has been attached by a Provisional Attachment Order dated 03.12.2022. The Petitioner herein gave a representation on 13.03.2023 offering security in the nature of a Fixed Deposit - Today, it is stated by the learned Counsel for the Respondent that he has instructions to state that the Enforcement Directorate is prepared to accept fixed deposit for the equivalent value of attachment of Rs. 91,40,104/, in the name of the Director of Enforcement. The Writ Petition is disposed of. DELHI HIGH COURT, Citation: 2024 (1) TMI 1289 - DELHI HIGH COURT Petitioner sought release of land measuring 12.475 acres at Village Sohna, Gurgaon, Haryana, attached by a 'Provisional Attachment Order' dated 03.12.2022, and offered alternate security in the form of a Fixed Deposit valued at Rs. 91,40,104/-. The Enforcement Directorate represented that it is prepared to accept a Fixed Deposit for the equivalent attachment value in the name of the Director, Enforcement. The writ petition was disposed of on that basis; pending applications were also disposed of. The Petitioner is directed to deposit the Fixed Deposit in the name of the Director, Enforcement Directorate, with the Investigating Officer within one week, and the Fixed Deposit is to be renewed periodically 'till the end of trial.' The court stated it 'has not made any observations on the merits of the case.'