TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the seized foreign currency was liable to be released to the petitioner pending trial in view of the petitioner's licence status and the nature of the seized property.
Analysis: Section 451 of the Code of Criminal Procedure, 1973 empowers the Criminal Court to pass appropriate orders for proper custody of property produced before it pending inquiry or trial and, where expedient, to order release or disposal. The petitioner's licence to deal in foreign currency was found to be subsisting on the date of seizure, renewal having been sought within time and subsequently granted. In these circumstances, continued retention of the foreign currency in the Treasury would serve no useful purpose. The currency was also not treated as material evidence warranting its detention.
Conclusion: The refusal to release the foreign currency was unsustainable, and the currency was directed to be released in favour of the petitioner on furnishing security and surety.
Final Conclusion: The petition succeeded, the impugned orders were set aside, and interim release of the seized foreign currency was ordered.
Ratio Decidendi: Where seized property is not required as material evidence and the applicant shows a subsisting entitlement or licence, the criminal court may order interim release under Section 451 of the Code of Criminal Procedure, 1973 on appropriate security.
TaxTMI 
