2022 (8) TMI 1361

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...., CM APPL. 35072/2022 & 35227/2022, W.P.(C) 11764/2022, CM APPL. 35073-74/2022, W.P.(C) 11765/2022, CM APPL. 35075-76/2022, W.P.(C) 11766/2022, CM APPL. 35077-78/2022, W.P.(C) 11767/2022, CM APPL. 35079-80/2022, W.P.(C) 11768/2022, CM APPL. 35081-82/2022, W.P.(C) 11776/2022, CM APPL. 35099/2022 & 35100/2022, W.P.(C) 11780/2022, CM APPL. 35116-17/2022, W.P.(C) 11797/2022, CM APPL. 35146-47/2022, W.....

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....r. Abhay Sachan and Mr. Saurabh Kushwaha, Mr. Divay Thareja, Advocates For the Respondent : Mr. Zoheb Hossain and Mr. Vivek Gurnani, Advocates with Mr. Amit Kumar (AD, ED), Mr. Tarun Bhardwaj, (EO, ED) and Mr. Sudeepto (LC, ED) ORDER 1. This batch of writ petitions have been preferred by the petitioners assailing the validity of debit freeze orders made by the respondents in purported exerci....

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....Rs. 250 crores in the subject accounts at all times. 3. Mr. Hossain, learned counsel appearing for the Directorate, however points out that, all these writ petitioners have assailed debit freeze orders after the expiry of the period of thirty days as contemplated under Section 17(4) of the Act and whereafter an original application has been duly moved before the Adjudicating Authority seeking con....

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....merits before that Authority. 6. The Court also takes note of the fair suggestion made by Mr. Hossain who contended that subject to all the petitioners maintaining a balance of the amounts which stood to the credit of the freezed accounts on the date of freezing of the individual accounts, permission may be accorded to them to operate the accounts and the debit freeze orders shall stand modified ....