https://www.taxtmi.com/caselaws?id=307833 A bank guarantee condition attached to withdrawal of funds from a frozen account was upheld where the account had been attached under Section 102 CrPC in an ongoing probe into alleged financial irregularities. The Court noted that prior Supreme Court orders had distinguished between money already released and the remaining balance, and had not permitted unconditional release of the balance. On the material then available, the allegation that the funds were linked to tainted transactions routed through foreign entities could not be rejected at the interim stage, especially since the accused's discharge was not final and the revision remained pending. The challenge to the Magistrate's condition was therefore rejected. en-us Thu, 16 Aug 2018 00:00:00 +0530 Thu, 11 May 2023 16:45:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307833 A bank guarantee condition attached to withdrawal of funds from a frozen account was upheld where the account had been attached under Section 102 CrPC in an ongoing probe into alleged financial irregularities. The Court noted that prior Supreme Court orders had distinguished between money already released and the remaining balance, and had not permitted unconditional release of the balance. On the material then available, the allegation that the funds were linked to tainted transactions routed through foreign entities could not be rejected at the interim stage, especially since the accused's discharge was not final and the revision remained pending. The challenge to the Magistrate's condition was therefore rejected. Case-Laws SEBI Thu, 16 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307833