2023 (4) TMI 1332

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....titioner : Mr. Indrajit Mohanty, Sr. Adv., Mr. Satya Mohanty, Adv., Mr. Rohit Krishna Mahanta, Adv., Mr. P Vamsha Rao, Adv., Mr. Lovkesh Aggarwal, Adv., Mr. Shubham Seth, Adv., Mr. Nikilesh Ramachandran, AOR. For the Respondent : Mr. Jayant K Sud, A.S.G., Mr. Veer Vikrant Singh, Adv., Ms. Megha Karanwal, Adv., Ms. Rukhmini Bobde, Adv., Mr. Arvind Kumar Sharma, AOR. ORDER Heard learned cou....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he Court only directed confiscation of disproportionate assets to the extent of Rs. 1,72,40,951/- in favour of the Central Government. 4. In pursuance to the registration of case by CBI, the Directorate of Enforcement, Bangalore Zonal Office also registered an ECIR bearing ECIR/BGZO/16/2015 dated 06.11.2015 to investigate offence of laundering of proceeds of crime derived from the said schedule....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....deration. 6. Learned counsel for the petitioner submits that without prejudice to the final outcome of the criminal proceedings for disproportionate assets, he may be permitted to give security of the said amount by way of a Bank Guarantee which may be made subject to final disposal of the proceedings and the attachment be lifted. In support of the contention, he has relied upon an order dated ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....onal Solicitor General has no objection in case the petitioner secures the amount by furnishing a fixed deposit receipt of a nationalized bank of the said amount with a lien in favour of the CBI and the Enforcement Directorate. 9. To secure the ends of justice, in the case at hands, we also direct that in case the petitioner furnishes a fixed deposit receipt of a nationalized bank for a sum of ....