2012 (2) TMI 658

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....No.20352/2011 (exemption) Exemption allowed subject to all just exceptions. The application stands disposed of. W.P.(C) No.9046/2011 The petitioner, No.1 G4S Cash Securities (India) Pvt. Ltd., is in the business of providing cash management services, vaulting services and secured services for the billion, cash and other valuables. 2. On 12.04.2011, a Van belonging to the petitioner No.1 was se....

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....said 11 customers are maintaining bank accounts. 4. The petitioner No.1 had filed an application under the first proviso with Section 132B for release of the said cash. It may be noted that the petitioner No.1 claim that it has made payment of an equivalent amount of ₹ 1,18,87,490/- to the Royal Bank of Scotland in terms of the agreement between them and the said Bank. As noted above, it is....

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....r, to the person from whose custody the assets were seized: Provided further that such asset or any portion thereof as is referred to in the first proviso shall be released within a period of one hundred and twenty days from the date on which the last of the authorisations for search under section 132 or for requisition under section 132A, as the case may be, was executed;? 6. We may note that ....