2012 (9) TMI 939

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hat the petitioner has, as the proprietor of M/s Tara India been issued a valid Import Export code by the Directorate General of Foreign Trade, Kolkata Zonal Office. It appears that with regard to certain exports effected by the petitioner and with regard to draw back claimed by the petitioner the Directorate of Revenue Intelligence has initiated investigations. It appears that towards the end of April 2012 certain consignments for export were intercepted by the Officers of the Directorate of Revenue Intelligence, Kolkata Zonal Unit. After examination and drawing of samples the DRI Authorities asked the Port Authorities not to remove the said consignments or part with the same until further orders from their end. The investigation is ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ordance with law. The only question is whether at this stage of investigation bank accounts could have been frozen. May be as argued by Mr. Dey, bank accounts were not actually frozen; the bank was only directed not to allow debits. However, for all practical purposes the petitioner has been restrained from utilizing funds lying in the aforesaid accounts, even for the purpose of its business. If there has been any fraud on the part of the petitioner as insinuated, the most stringent action in law might be taken. If there has been mis-declaration drawback may be withheld in accordance with law. However, I have not been shown any provision of law which authorises the Directorate of Revenue Intelligence to prevent banking operations pending....