Bank account freeze modified after undertaking not to deal with funds and similar relief in connected matters.

Four frozen bank accounts were directed to be de-frozen, with the restraint modified only to preserve the balance amounts in those accounts. The Tribunal noted that similar relief had already been granted in connected appeals and accepted the appellants' undertaking not to deal with the funds. On that limited basis, the continuing freeze was treated as unnecessary in its original form, and the impugned order was modified accordingly. The appeals, together with pending applications, were disposed of on that basis.

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Issues: Whether the four frozen bank accounts of the appellants should be de-frozen and the impugned freezing order modified.

Analysis: The appeals concerned only the freezing of four bank accounts. The Tribunal noted that similar relief had already been granted in earlier connected appeals and that the appellants gave an undertaking that the amounts lying in the accounts would not be dealt with. In view of the earlier orders and the limited nature of the relief sought, the restraint on the accounts was considered unnecessary to continue in the same form.

Conclusion: The four bank accounts were ordered to be de-frozen, while the appellants were directed not to deal with the balance amount lying in those accounts. The impugned order was modified to that extent and the appeals were disposed of along with the pending applications.

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