TaxTMI 
TaxTMI 
2023 (4) TMI 13
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...., Advs. Mrs. Amrita Prakash CGSC with Mr. Vishal Ashwani Mehta Advocate for UOI. Prathiba M. Singh, J. (Oral) 1. This hearing has been done through hybrid mode. 2. The present petitions have been filed challenging the impugned orders F No. -ECIR/STF/02/2022 dated 5th July, 2022/ 6th July, 2022 by which a debit freeze was ordered on the various bank accounts of the Petitioners i.e. M/s Vivo Mobile India Pvt. Ltd. (hereinafter 'Vivo') and M/s Grand Prospect International Communication Pvt. Ltd.( hereinafter 'GPICPL'). 3. The following direction was issued as an interim order on 13th July 2022 in WP(C) 10382/2022- "Pursuant to the last order passed, the Enforcement Directorate in terms of a communication of 9 July 2022 had called upon th....
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....ounts which were otherwise available could not have been subjected to a debit freeze in the exercise of powers conferred by Section 17(1A). Learned senior counsel has in this behalf placed reliance on the decisions rendered by a Division Bench of the Allahabad High Court in Motilal & Ors. vs. Preventive Intelligence Officer, Central Excise and Customs, Agra & Ors. [(1971) 80 ITR 418] as well as of this Court in Shri Lal Gupta & Ors. vs. Union of India & Ors. [1992 (22) DRJ 1]. It was further pointed out that the decision in Motilal also stands affirmed by the Supreme Court in Commissioner of Income Tax vs. Tarsen Kumar [161 ITR 505]. Mr. Hossain, on the other hand, would submit that the ambit and scope of Section 132 of the Income-tax Act....
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.... within seven working days from today. Subject to the submission of that bank guarantee, the petitioner may be permitted to operate the bank accounts which form subject matter of the orders under Section 17(1A) to the extent that a sum of Rs. 251 crores which was standing in credit in those accounts on the date of the passing of the impugned orders shall be maintained at all times. Additionally the petitioner shall also furnish to the Enforcement Directorate all details of remittances that may be made from the concerned bank accounts every 48 hours. As jointly prayed let this petition be listed on 28.07.2022 for final disposal. Order dasti under the signatures of the Court Master " 4. This interim order by which the bank guarantee has ....
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....estrains the petitioner from repatriating any proceeds which may come to be credited to the subject bank accounts outside the country till the next date of listing." 6. As per the interim order dated 1st September 2022, a credit balance of Rs.10,45,94,868.9/- was required to be maintained. 7. In the meantime, the Adjudicating Authority has, vide its order dated 21st December, 2022, has confirmed the debit freeze order in the following terms. "7. CONCLUSION: What is required to be seen at this juncture is interest of the investigation, where prima facie allegations exist regarding commission of the offence of money laundering. The background stated in the OA sufficiently indicates that the proceeds of crime are involved. The investigat....
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.... as under: "The Applicant is directed to take into account the aforesaid directions of the Hon'ble High Court of Delhi and the present order under section 8(3) is subject to the aforesaid direction of the Hon'ble High Court of Delhi." 9. This order of the Adjudicating Authority dated 21st December, 2022 has now been appealed by the Petitioner under Section 26 of the Prevention of Money Laundering Act, 2002 (hereinafter 'PMLA'). The appeal has been filed before the Appellate Tribunal under the PMLA in February, 2023 and is now pending in the Appellate Tribunal. Insofar as the Petitioner in W.P.(C) 12650/2022 is concerned, ld. Counsel for the Petitioner submits that the appeal is in the process of being filed. 10. Considering the fact tha....