Supreme Court Modifies Order: Bank Guarantees Returned, Fixed Deposit Renewed Pending Money Laundering Tribunal Appeal.

The SC modified the interim order of the HC pending an appeal before the Prevention of Money Laundering Appellate Tribunal. The SC directed the return of Bank Guarantees to the respondent and instructed the appellant to renew the Fixed Deposit until the appeal's final disposal. The HC was tasked with considering the respondent's entitlement to accrued interest upon final disposition. All issues in the pending appeal were left open, and the HC was advised not to be influenced by the SC's modification. The appeal was disposed of on these terms, ensuring the continuation of the Fixed Deposit renewal.

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Issues involved:
The issues involved in the judgment are the challenge to an interim order passed by the High Court pending an appeal, encashment of Fixed Deposits, investment of the amount in a Fixed Deposit, entitlement to interest accrued on the Fixed Deposit amount, and modification of the impugned interim order.

Challenge to Interim Order:
The appeal was filed to challenge an interim order passed by the High Court pending an appeal before the Prevention of Money Laundering Appellate Tribunal. The impugned order directed the respondent to accept the Bank Guarantee in lieu of Fixed Deposits amounting to Rs. 152,84,61,315. The appellant agreed to renew the Fixed Deposit till the final disposal of the appeal.

Encashment of Fixed Deposits and Investment:
It was acknowledged that the Fixed Deposits submitted by the respondent were encashed by the appellant, who then invested the entire amount in a Fixed Deposit.

Entitlement to Interest Accrued:
The respondent claimed entitlement to interest accrued on the Fixed Deposit amount if the appellant fails in the pending appeal. The High Court will consider this claim at the time of finally disposing of the appeal.

Modification of Interim Order:
The impugned interim order was modified by directing the return of the Bank Guarantees to the respondent. The appellant was instructed to continue renewing the Fixed Deposit until the appeal's final disposal. The High Court was tasked with considering the respondent's entitlement to interest accrued on the Fixed Deposit when finally disposing of the appeal.

Keeping Questions Open:
It was clarified that all questions involved in the pending appeal were kept open, and the High Court was directed not to be influenced by the modification of the interim order made by the Supreme Court.

Disposition of the Appeal:
The appeal was disposed of based on the modified terms, ensuring the continuation of the Fixed Deposit renewal by the appellant until the final disposal of the appeal before the High Court.

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