Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
The dominant issue was whether an investigating agency has statutory authority under s. 106 of the Bharatiya Nagarik Suraksha Sanhita, 2023 to attach or debit-freeze a bank account. Relying on settled law under the corresponding seizure power in s. 102 CrPC, as explained in precedent, the court held that police may seize only property that is stolen or found in circumstances creating suspicion of commission of an offence; conversely, property not meeting this threshold cannot be seized. Since s. 106 BNSS does not confer an attachment/debit-freezing power over bank accounts, the impugned debit-freeze orders were quashed and set aside. - HC
The dominant issue was whether an investigating agency has statutory authority under s. 106 of the Bharatiya Nagarik Suraksha Sanhita, 2023 to attach or debit-freeze a bank account. Relying on settled law under the corresponding seizure power in s. 102 CrPC, as explained in precedent, the court held that police may seize only property that is stolen or found in circumstances creating suspicion of commission of an offence; conversely, property not meeting this threshold cannot be seized. Since s. 106 BNSS does not confer an attachment/debit-freezing power over bank accounts, the impugned debit-freeze orders were quashed and set aside. - HC
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