AI Overview...
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Bank Deposits and Attachability - Courts have consistently held that cash in bank accounts is attachable property under Section 281B, as evidenced by rulings in cases Assistant Commissioner Of Income Tax VS Mohammed Salih - Kerala and Department vs Respondents 1 and 2 - Kerala. The courts clarified that bank deposits can be seized or attached, and the argument that the term cannot encompass bank deposits was not favored Assistant Commissioner Of Income Tax VS Mohammed Salih - Kerala, Department vs Respondents 1 and 2 - Kerala.
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Legal Interpretation of Attachability - The courts emphasized that money in bank accounts is considered property liable for attachment, overruling earlier doubts about the scope of Section 281B. However, specific legal provisions like Section 60(1) CPC also govern the attachment of money, reinforcing its attachability Assistant Commissioner Of Income Tax VS Mohammed Salih - Kerala, Department vs Respondents 1 and 2 - Kerala.
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Attaching Rights and Other Property - Rights over property such as building or plots are attachable and saleable in enforcement of decrees, even against the volition of the allottee Zoroastrian Co-operative Housing Society LTD. VS District Registrar Co-operative Societies (Urban) - Supreme Court. Similarly, assets like Fixed Deposit Receipts (FDRs) pledged against loans can be attached, and bank lien does not prevent attachment, as shown in Kalupur Commercial Co. Op. Bank Ltd. VS Union of India - Gujarat.
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Attachable vs. Attachable Term Policy Cannot be Attachable - The term Term Policy or similar insurance policies are generally not considered attachable property, unlike cash or bank deposits. The legal focus remains on tangible and fungible assets like cash, bank deposits, and pledged securities, which courts recognize as attachable Assistant Commissioner Of Income Tax VS Mohammed Salih - Kerala, Department vs Respondents 1 and 2 - Kerala, Kalupur Commercial Co. Op. Bank Ltd. VS Union of India - Gujarat.
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Special Categories of Attachments - Certain properties are categorized as alternative attachable property or deemed tainted property, used when actual tainted property cannot be traced. These categories are invoked in specific cases, with the phrase value of property not necessarily equating to the property itself, especially across borders M/s N.K. Industries Limited vs Directorate of Enforcement - Appellate Tribunal for Forfeited Property.
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Exceptions and Limitations - Funds still in the fund (e.g., provident fund) are not attachable until they reach the subscriber or the defendant, as per rulings Central Bank of India Ltd. VS M. V. V. Rao - Calcutta. The attachment depends on the status of the funds and their reachability.
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Policy and Management Aspects - In cases involving corporate management or policies, courts recognize that new management cannot be considered a disguised or related party of the old management, impacting attachment or enforcement actions Nitin Jain Liquidator PSL Limited VS Enforcement Directorate - Delhi.
Analysis and Conclusion
The main insight is that cash in bank accounts and pledged securities are clearly attachable under Section 281B, whereas term insurance policies or similar policies are generally not attachable. The courts have clarified that assets like bank deposits, FDRs, and rights over property are subject to attachment, with specific legal provisions and case law supporting this. The concept of attachable property encompasses fungible and liquid assets, but not necessarily policies like term insurance, which are not considered property in the same sense. When actual tainted property cannot be traced, courts may invoke categories like deemed tainted property, but the fundamental principle remains that only certain classes of assets are attachable, primarily liquid and fungible assets such as cash, bank deposits, and pledged securities.
Search Results for "Group Term Policy Cannot be Attachable"
2025 0 Supreme(Ker) 170 • India - Kerala
SATHISH NINAN, SHOBA ANNAMMA EAPEN
... ... Findings of Court: ... The court found that cash in bank accounts is attachable property under Section 281B, quashing the ... (Paras 15, 18) ... ... Facts of the case: ... The police seized Rs.1,56,00,000/- from respondents ... Provisional attachment of property - Court held that cash in a bank account is 'property' liable to attachment under Section 281B - The term ... At any rate, the term cannot encompass Bank deposits, it is argued. The arguments found favour with the learned Single Jud....
2025 Supreme(Online)(Ker) 24122 • India - IN THE HIGH COURT OF KERALA AT ERNAKULAM
Sathish Ninan, J
... ... Findings of Court: ... The court clarified that money in bank accounts is indeed attachable under Section 281B, overruling ... (Paras 17, 18) ... ... Facts of the case: ... The police seized ₹1,56,00,000/- from a vehicle ... Paras 9, 10, 13, 18) ... ... (B) Legal Interpretation - The term ... At any rate, the term cannot encompass Bank deposits, it is argued. The arguments found favour with the learned Single Judge. 9. ... Noticeably, Section 60(1) CPC specifically states that money is an....
2005 3 Supreme 428 • India - Supreme Court
B.N.AGARWAL, P.K.BALASUBRAMANYAN
It may also be attachable and saleable in spite of the volition of the allottee. ... He cannot question that restriction. ... The fact that the rights of a member or an allottee over a building or plot is attachable and saleable in enforcement of a decree ... It may also be attachable and saleable in spite of the volition of the allottee. ... The fact that the rights of a member or an allottee over a building or plot is attachable and saleable in enforcement of a decree or an obligation against him #HL_....
2016 0 Supreme(Guj) 1343 • India - Gujarat
K.S.JHAVERI, G.R.UDHWANI
The bank had seized FDRs pledged against loans to Agrawal and his group. ... , leading to a legal dispute over the bank's right to set off the FDR amounts against the dues recoverable from Agrawal and his group ... cooperative bank, challenged the Income Tax Department's order and notice to prohibit payment of dues of Shri Om Prakash Agrawal and his group ... So far as the attachment is concerned, the banker's lien cannot by itself be a bar for such attachment. ... He further submitted that the attachment order also #HL_....
2005 1 Supreme 697 • India - Supreme Court
P.VENKATARAMA REDDI, A.K.MATHUR
In declining to grant the relief of possession by way of interim measure, the Commission cannot be said to have committed a jurisdictional ... Looking to the huge investment required and the nature of the job which is most sophisticated requiring network and infrastructure, a long term contract, if thought viable and feasible, cannot be faulted by the court. ... Rule 50 permits, the RTOs concerned themselves to implement the policy or to get it implemented through a selected approved manufacturer. ... 40. ... The #HL_STA....
2025 Supreme(Online)(ATFP) 69 • India - Appellate Tribunal for Forfeited Property
SHRI V. ANANDARAJAN, MEMBER
For the sake of convenience, the properties covered by the second and third categories may be referred to as “the alternative attachable property” or “deemed tainted property”. 17. ... However, both the italicised categories would be liable to be invoked in cases where the actual tainted property cannot be traced or found out. ... Seema Garg principally holds that the phrase value of any such property and property equivalent in value held within the country or abroad cannot be ascribed the same meaning and effect. ... Among the three kind....
2004 0 Supreme(SC) 1489 • India - Supreme Court
Y.K.SABHARWAL, D.M.DHARMADHIKARI
India-In the initial stages of its implementation, tender conditions encouraging such manufacturers who are in foreign collaborations cannot ... Looking to the huge investment required and the nature of the job which is most sophisticated requiring network and infrastructure, a long term contract, if thought viable and feasible, cannot be faulted by the court. ... Rule 50 permits, the RTOs concerned themselves to implement the policy or to get it implemented through a selected approved manufacturer. ... 40. ... The #HL_S....
2025 Supreme(Online)(ATFP) 231 • India - Appellate Tribunal for Forfeited Property
For the sake of convenience, the properties covered by the second and third categories may be referred to as “the alternative attachable property” or “deemed tainted property”. 17. ... However, both the italicised categories would be liable to be invoked in cases where the actual tainted property cannot be traced or found out. ... Seema Garg principally holds that the phrase value of any such property and property equivalent in value held within the country or abroad cannot be ascribed the same meaning and effect. ... Among the three kind....
1944 0 Supreme(Cal) 192 • India - Calcutta
There the money was still in the Fund and it was held that it was not attachable in execution. ... L.R. 921) and I need not refer further to the rules or to the policy of the Act on which arguments were addressed to us. 25. ... Chaudhuri that under R. 3 of the Bengal Nagpur Railway Provident Fund Rules the Fund is vested in the Government and therefore the Railway Company cannot be called upon to bring any money into Court. ... This money has not yet reached the hands of the subscriber the defendant Rao and therefore it still retains the ....
2021 0 Supreme(Del) 2417 • India - Delhi
YASHWANT VARMA
The new management cannot be the disguised avatar of the old management. It cannot even be the related party of the corporate debtor. ... The new management cannot be the disguised avatar of the old management. It cannot even be the related party of the corporate debtor. ... Manoj Kumar has duly taken note of this aspect when it held that the creation or cessation of an offense is ultimately an issue of legislative policy. ... Manoj Kumar has duly taken note of this aspect when it held that the creation....
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