2005 (11) TMI 33

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.... In the course of the aforesaid search and seizure operation held on November 24, 1999, evidence of two fixed deposit certificates issued by the then ANZ Grindlays Bank for Rs. 20,000 and Rs. 25,000, respectively, renewed up to date, were found. The said fixed deposits certificates were issued in the name of the petitioner, who had shown his address in the care of one Subodh Misra of M/s. Dolphine Service. On the basis of the said facts a consequential warrant of authorisation under section 132(1A) was issued for search and the premises of the bank and thereafter on January 20, 2000, the respondents converted the value of the certificates into a bankers cheque payable to the Department whereafter the money was deposited in the account of th....

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....horised officer. Thereafter, the remaining provisions of section 132 of the Act have to be followed for the purpose of deciding as to the manner in which the property seized is to be dealt with or whether such property is to be returned to the owner. In the present case, Mr. Bhuyan, learned counsel for the Department, has placed before the court the satisfaction note recorded by the authorised officer leading to the consequential warrant authorising the search in the premises of the bank following which conversion of the property of the petitioner took place. A reading of the aforesaid satisfaction note would go to show that the authorised officer has recorded his satisfaction to the effect that the fixed deposit certificates of the petiti....