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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
M.SATYANARAYANA MURTHY
Comfort Finacap Limited – Appellant
Versus
State of Telangana – Respondent
ORDER :
M. SATYANARAYANA MURTHY, J.
1) All these petitions are filed by the 3rd parties in Crime No.248 of 2013 pending on the file of Economic Offences Wing (hereinafter referred as EOW),CID, Hyderabad.
2) The petitioners are the companies represented by the authorized signatories Mr.Anil Agrawal and others whose deposits were freezed by the Investigating Agency during investigation in the said Crime No.248 of 2013 for the offences punishable under Sections 406 , 420, 447, 385, 467, 468, 469, 471, 120B r/w 34 of IPC.
3) All the petitions are filed for the relief of quashing the order passed under Section 102 Cr.P.C freezing the bank accounts/demat accounts of the companies and individuals by the Investigating Officer.
4) In all the petitions, the accused and defacto complainant are one and the same, and the relief claimed is also the same. Therefore, I find it expedient to decide all the petitions by common order.
5) The details of the reliefs claimed by different persons are mentioned hereunder in a table:
| Sl. No . | Crl.P.Nos. | Parties | Relief |
| 1. | 7351 of 2018 | M/S.Comfort Fincap Ltd Anil Agrawal (Director) | To quash and set aside the proceeding dated 27.04.2017 for freezing of the Demat accounts be |
Freezing of bank accounts under Section 102 Cr.P.C is lawful during investigations without prior notice, and challenges to such orders are not maintainable when alternative remedies exist.
The main legal point established in the judgment is the requirement to follow the procedure laid down under Sec. 102 Cr.P.C and the need for sufficient evidence to support the freezing of a bank acco....
The main legal point established in the judgment is the legality of freezing bank accounts under Section 102 Cr.P.C. and the applicability of this provision in the context of the case.
The court established that a bank account can be frozen under suspicion of criminal activity, and failure to report the freeze to the Magistrate does not invalidate the action.
The main legal point established in the judgment is that the procedure for freezing bank accounts under the Unlawful Activities (Prevention) Act, 1967, specifically Section 25, is directory in nature....
Seizure of assets under S.102 CrPC requires compliance with statutory provisions and cannot be based solely on suspicion.
it is a case where there were serious allegations of loan fraud by Chinese Companies involving Crores of rupees by cheating innocent people and their harassment. There were suicidal deaths due to the....
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