Order 1

Order Details: Order Below EX 1
Pdf Text: C. C. No. 1904 PW 2022 State Vs J. Sudhakar Reddy and ors.
CNR No.MHMM18-009146-2022
ORDER BELOW APPLICATIONS, EXHS.5 TO 10
(For defreezing accounts)
1. These applications under Section 457 of Code of Criminal
Procedure for release of property i.e. defreezing of bank accounts,
mentioned in the applications.
2. The summary of these applications is that in connection with the
present offence their accounts mentioned in the applications were frozen
by Investigating Officer. Applicants have no connection with the alleged
acts and till date cooperated with the investigation. Due to action taken by
respondent, its every economic activity as mentioned in the applications
are stopped. Applicants are ready to remain abide by the conditions, if
any, imposed.
3. Respondent and Ld. A.P.P. objected to it. The summary of their
objections is that allegations are serious. Investigation is yet incomplete
and there found connections between those accounts and the alleged
transactions. There is possibility of tampering. Therefore, applications
shall be rejected.
4. On perusal of record it is noticed that the amount lying in all the
accounts is high, however amount transferred is very low. The evidence to
suggest that the amount is the same amount in respect of which offence
was registered and charge sheet is filed is comparatively weak. The
investigation relating to it is over. The accounts are main business
accounts of the applicants. Due to freezing of accounts every activity of
the applicants is halted. Applicants are ready to remain abide by the
conditions and also ready to furnish bank guarantee, if ordered. Evidence
already collected. There appears no hindrance in allowing the applications
as applicants may suffer irreparable loss and investigation relating to
account is already over. Accordingly, following order -
-- 1 of 2 --
C. C. No. 1904 PW 2022 State Vs J. Sudhakar Reddy and ors.
CNR No.MHMM18-009146-2022
ORDER
a. All the applications are allowed.
b. The restrictions for operation of bank accounts mentioned in all
these applications, are removed/withdrawn subject to condition that
applicants shall furnish Indemnity Bonds and bank guarantee for three
years, in the name of Addl. Chief Metropolitan Magistrate, 9th Court, Bandra,
Mumbai, of respective amounts transferred in those accounts in respect of
the disputed transactions relating to present matter.
c. After compliance of the above conditions, issue letter to the
respondent/Investigating Officer of concerned police station of the present
crime. He is directed to issue letter accordingly to concerned bank and
request for defreezing of the bank accounts mentioned in all these
applications after compliance of above conditions.
MUMBAI (KOMALSING RAJPUT)
DATE – 20.10.2022 M.M., 12TH COURT, BANDRA, MUMBAI
-- 2 of 2 --