Allowed

Eko Indian Finance Service Private Limted v. State of Maharashtra

Bombay HC10 Sept 2024APL/905/2024

Case brief

AI extract

What is this about?

Company sought defreezing of its Axis Bank account frozen in a criminal case after the trial court rejected its application. The Investigating Officer stated the credited amount was refunded next day and the company was not involved in the crime. Accepting the statement, the High Court quashed the trial court's order and defreezed the account.

What did the court decide?

Impugned trial court order quashed; applicant-company's Axis Bank Account No. 916020049529391 (IFSC UTIB0000131) defreezed with immediate effect; rule made absolute.

Eko Indian Finance Service Private Limted vs State of… — Banking and Recovery | Bombay HC (2024)

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P.H. Jayani 19 APL905.2024.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION

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CRIMINAL APPLICATION (APL) NO. 905 OF 2024

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Eko Indian Finance Service Private Limited …. Applicant Vs. The State of Maharashtra …. Respondent

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Ms. Jasmine Purani a/w. Mr. Rahul Agarwal i/b. Agarwal and Dhanuka Legal for the Applicant.

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Dr. D.S. Krishnaiyer, APP for the State.

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Mr. Bharat Shendge, PI, Colaba Police Station, Mumbai, present.

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CORAM : SHYAM C. CHANDAK, J.

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DATED : 23^rd SEPTEMBER, 2024

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P.C. :-

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. At the outset, learned Advocate for the Applicant seeks leave to amend to correct the prayer clause. Leave to amend. Amendment be carried out forthwith.

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Heard. Rule. Rule made returnable forthwith. With consent of the parties, heard finally.

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Present Application impugns an Order dated 26^th December, 2023 passed by the learned Special Judge, City Civil & Sessions Court, Greater Mumbai in Sessions Case No.625/2023 thereby Miscellaneous Application No.559 of 2023 seeking for defreezing of the Applicant’s Axis Bank Account No.916020049529391, has been rejected. The reason for the said rejection is that, said bank account was used for crediting the amount of the crime.

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Mr. Bharat Shendge, Investigating Officer is present and through

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P.H. Jayani 19 APL905.2024.doc

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learned APP made a statement that, an amount of Rs.10,00,000/- involved in the crime was credited in the aforesaid bank account of the ApplicantCompany. However, on the very next date of the credit, the ApplicantCompany refunded that amount by way of reverse banking entry. Further, the Investigating Officer made a statement that, the Applicant-Company or its owner/s are not involved in the crime. Said fact was also conveyed to the trial Court. Therefore, he has no objection to defreeze the aforesaid bank account.

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The said statement by the Investigating Officer is accepted.

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In view thereof, the Application deserves to be allowed. Hence, following Order :-

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- ORDER -

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(i) The impugned Order dated 26^th December, 2023 passed by the learned Special Judge, City Civil & Sessions Court, Greater Mumbai in Miscellaneous Application No.559 of 2023, is quashed and set-aside.

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(ii) Applicant-Company’s Axis Bank Account bearing No. 916020049529391, having IFSC Code No.UTIB0000131 situated at SG-21 & 22, Galleria Shopping Mall, Phase IV, DLF Qutab Enclave Complex, DLF City, Gurgaon 122002, is defreezed with immediate effect.

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Criminal Application No.905 of 2024 stands disposed of. Rule is made absolute.

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PREETI HEERO JAYANI

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(SHYAM C. CHANDAK, J.)

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Digitally signed by PREETI HEERO JAYANI Date: 2024.09.27 17:21:43 +0530

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Eko Indian Finance Service Private Limted v. State of Maharashtra

Case brief

What is this about?

What did the court decide?

Eko Indian Finance Service Private Limted v. State of Maharashtra

Case brief

What is this about?

What did the court decide?

What the court decided

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