https://www.taxtmi.com/caselaws?id=282757 An interlocutory freezing order over bank accounts may be modified where practical difficulties arise, provided the Court's safeguards continue to protect disputed assets. Here, the blanket requirement of a bank guarantee for the full amount in current accounts was relaxed and replaced with a reduced guarantee plus security by deposit of immovable property title deeds. The bank was also allowed to honour foreign letters of credit and appropriate specified lien-backed fixed deposits, while the unused balance remained frozen. In addition, 19 collection and payment accounts were defreezed, subject to strict compliance with the earlier and present directions governing routing of revenues and continued restraint over the protected funds. en-us Tue, 31 Jul 2012 00:00:00 +0530 Fri, 31 Jan 2025 22:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282757 An interlocutory freezing order over bank accounts may be modified where practical difficulties arise, provided the Court's safeguards continue to protect disputed assets. Here, the blanket requirement of a bank guarantee for the full amount in current accounts was relaxed and replaced with a reduced guarantee plus security by deposit of immovable property title deeds. The bank was also allowed to honour foreign letters of credit and appropriate specified lien-backed fixed deposits, while the unused balance remained frozen. In addition, 19 collection and payment accounts were defreezed, subject to strict compliance with the earlier and present directions governing routing of revenues and continued restraint over the protected funds. Case-Laws Money Laundering Tue, 31 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282757