M/S Sai Traders v. The State of Andhra Pradesh
Case brief
What is this about?
The High Court modified the impugned order imposing a condition to furnish a Rs.8,00,000/- bank guarantee for releasing seized rice stock. The court permitted the petitioner to furnish a Rs.2,00,000/- bank guarantee along with third-party immovable property security for the balance.
What did the court decide?
Petitioner permitted to furnish bank guarantee of Rs.2,00,000/- and third party immovable property security for balance to release seized stock.