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M. S. RAMESH, SUNDER MOHAN
Balasubramaniam Sriram – Appellant
Versus
Directorate of Enforcement, Government of India, Rep. by its Joint Director – Respondent
ORDER :
M.S. Ramesh, J.
[PRAYER: Writ Petition filed under Article 226 of the Constitution of India, praying to issue a Writ of Mandamus, directing the respondents 1 and/or 2, forthwith, to defreeze the petitioner's fixed deposit accounts in number 1.923040089003897, 2.923040089002124, 3.923040089003143 maintained with the 3rd respondent.
The petitioner herein, who claims to be the founder, promoter and one of the directors of M/s.Ocean Lifespaces India Private Limited, has filed this Writ Petition, seeking for a direction to the 1st and 2nd respondents to defreeze his three fixed deposit accounts maintained with the 3rd respondent herein, predominantly on the ground that the Enforcement Case Information Report (ECIR) registered by the 1st respondent herein has been quashed by this Court, through orders passed in W.P.No.3894 of 2024, dated 02.04.2024 and since there is no other ongoing investigation by the 1st and 2nd respondents herein, the attachments of these bank accounts cannot be legally sustained.
2. Some of the relevant facts involved in the case are that the petitioner had lodged a complaint before the Commissioner of Police, Vepery, on 12.04.2023, which came to be closed, thr
The court established that without ongoing investigations or evidence of proceeds of crime, the attachment of assets under the PMLA is not justified.
The court established that timely notification to the jurisdictional magistrate regarding account seizures is essential to uphold the rights of account holders under Section 102 of the Cr.P.C.
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