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Issues: Whether the order rejecting the stay application was liable to be set aside and the matter restored for fresh consideration by the appellate authority.
Analysis: The impugned order was set aside and the stay application was revived. The matter was restored to the file of the respondent authority with a direction to consider the stay application afresh in accordance with law. Liberty was also reserved to the petitioner to seek lifting of restrictions on the bank account.
Outcome: The writ petition was disposed of by granting restoration of the stay application for fresh decision.
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