Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
Dominant issue: whether seized demat accounts, attached under Section 37A for alleged contravention of Section 4 of the Act of 1999, may be substituted by a fixed deposit (FD) of equivalent value to secure the claimed amount. Reasoning: seizure aimed to secure an equivalent sum; substitution by an FD equally secures the respondents' interest, is equitable, and permits the appellants to pursue compounding with the RBI; the FD remains subject to final adjudication and any compounding outcome. Outcome: seizure lifted on furnishing an FD of equivalent value, held with lien and subject to adjudication and RBI compounding results. - AT
Dominant issue: whether seized demat accounts, attached under Section 37A for alleged contravention of Section 4 of the Act of 1999, may be substituted by a fixed deposit (FD) of equivalent value to secure the claimed amount. Reasoning: seizure aimed to secure an equivalent sum; substitution by an FD equally secures the respondents' interest, is equitable, and permits the appellants to pursue compounding with the RBI; the FD remains subject to final adjudication and any compounding outcome. Outcome: seizure lifted on furnishing an FD of equivalent value, held with lien and subject to adjudication and RBI compounding results. - AT
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