Rajiv Chakraborty Resolution Professional of Era Infra Engineering Limited vs Naveen Tyagi Branch Manager, Axis Ban

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

DELHI HIGH COURT
SANJEEV SACHDEVA
Rajiv Chakraborty Resolution Professional of Era Infra Engineering Limited – Appellant
Versus
Naveen Tyagi Branch Manager, Axis Ban – Respondent

Table of Content
1. court quashed the account freeze order. (Para 2 , 3)
2. petitioner claims account operations were restricted despite court order. (Para 4 , 5 , 6 , 7 , 8 , 10)
3. compliance issues with the enforcement directorate and income tax. (Para 11 , 12 , 13 , 14 , 15 , 16)
4. bank sought clarification before allowing account operations. (Para 17 , 18 , 19)
5. cautious approach justified given ongoing attachments. (Para 20 , 21)
6. petition dismissed; rights to challenge attachment preserved. (Para 22 , 23 , 24)

JUDGMENT

Sanjeev Sachdeva, J.

CM APPLN. 12364/2020 (Directions)

1. The hearing was conducted through video conferencing.

2. Petitioner has filed the subject petition seeking initiation of contempt proceedings against the respondent-Axis Bank for failing to comply with the judgment dated 14.11.2019 in W.P. (C) No. 9566/2019.

3. By order dated 14.11.2019, this Court had directed that the freeze of the bank account, in exercise of powers under Section 102 of the Prevention of Money Laundering Act, 2002 (in short `PMLA'), could not be sustained and was quashed. However, it was held that said order would not affect the order dated 07.10.2019 passed by the authority under

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DELHI HIGH COURTSANJEEV SACHDEVARajiv Chakraborty Resolution Professional of Era Infra Engineering Limited – AppellantVersusNaveen Tyagi Branch Manager, Axis Ban – Respondent

DELHI HIGH COURT
SANJEEV SACHDEVA
Rajiv Chakraborty Resolution Professional of Era Infra Engineering Limited – Appellant
Versus
Naveen Tyagi Branch Manager, Axis Ban – Respondent