In a landmark decision, the Gujarat High Court has quashed the impugned order and modified the decision in the DPIL case. The court’s ruling provides relief to the 76-year-old lady involved in the case, allowing for the defreezing of certain accounts with the condition of producing a bank guarantee. Stay informed as we delve deeper into this crucial legal battle.
Facts
- The High Court considered the arguments presented by the Petitioner.
- The Petitioner contended that the impugned order passed by the Principal District & Sessions Judge should be quashed and set aside.
- The Court observed that the impugned order was not sustainable in law.
- The Court found that there were no grounds for passing the impugned order.
- The Court allowed the prayer to quash and set aside the order dated 10.01.2024.
Arguments
- Senior Advocate Mr. M.R. Bhatt argued that the petitioner’s accounts were defreezed subject to producing a Bank Guarantee.
- The petitioner has not been named in the FIR or charge-sheet, and the investigation is nearing completion.
- Imposing the condition of furnishing a Bank Guarantee undermines the relief granted in the impugned order as it requires parking funds with the Bank.
- The unrealistic condition of defreezing poses a prejudice to the senior citizen with no connection to the alleged crime, who needs funds for medical and personal use.
- The case was registered against M/s. Diamond Power Infrastructure Limited (DPIL), Vadodara, Gujarat based on reliable source information.
- The founder and Managing Director of the company, along with others, are accused of offences under various sections of the Indian Penal Code and the Prevention of Corruption Act.
- Mr. Kodekar argued that there is material evidence against the chargesheeted persons indicating the funds in the Bank Accounts/FDs/TDs are proceeds of the crime.
- The applicant, a 76-year-old lady not accused in the matter, requires the funds in her Bank Account/FDs/TDs for personal needs.
- To secure the funds during trial in case they are linked to alleged offenses, the applicant will file a personal bond of Rs.2,45,97,038.96 before the C.B.I. Court.
- The person must deposit funds with the Bank to produce the Bank Guarantee.
- Some of the FDs and TDs are in joint names, and one FD is in the name of a trust.
- The impugned order defreezes the accounts (Serial No.1 to 9) on the condition of producing a Bank Guarantee of Rs.2,45,98,000 for five years.
Decision
- The impugned order dated 10.01.2024 in Criminal Misc. Application No.4455 of 2023 in ACB Special Case No.03 of 2020 has been modified.
- The application has been disposed of.
Case Title: MADHURILATA SURESH BHATNAGAR Vs. CENTRAL BUREAU OF INVESTIGATION
Case Number: R/CR.RA/306/2024
