https://www.taxtmi.com/caselaws?id=437641 A freeze order over a company's assets cannot be sustained where the company was not named in the FIR or chargesheet, was not shown to be an employee, shareholder, director or key managerial person of the accused, and had no demonstrated link to the criminal investigation. The restraint had been imposed only because proceedings were pending against a third party. Once the accused was discharged, and in any event where the company had no necessary connection with the investigation, continued asset restraint lost its lawful investigative purpose. The associated bank guarantee condition, being an extension of the freeze, was likewise unjustified and was set aside. en-us Tue, 09 May 2023 00:00:00 +0530 Fri, 12 May 2023 08:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437641 A freeze order over a company's assets cannot be sustained where the company was not named in the FIR or chargesheet, was not shown to be an employee, shareholder, director or key managerial person of the accused, and had no demonstrated link to the criminal investigation. The restraint had been imposed only because proceedings were pending against a third party. Once the accused was discharged, and in any event where the company had no necessary connection with the investigation, continued asset restraint lost its lawful investigative purpose. The associated bank guarantee condition, being an extension of the freeze, was likewise unjustified and was set aside. Case-Laws SEBI Tue, 09 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437641