Bizarrre Business Corporation Limited v. State of Kerala
Case brief
What is this about?
The Court held that the Director of Enforcement is duty bound to take possession of frozen bank accounts under Section 8(4) of the PML Act, 2002, while funds are retained for trial. Creditors must file claims before the Special Court.
What did the court decide?
Directed Director of Enforcement to take possession of frozen amounts; creditors free to claim before Special Court.
What the court decided
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE SHAJI P.CHALY
FRIDAY, THE 24TH DAY OF MARCH 2017/3RD CHAITHRA, 1939
WP(C).No. 6161 of 2013 (U)
PETITIONER:
M/S.BIZARRRE BUSINESS CORPORATION LTD., 44/3188 A-9, DESABHIMANI ROAD, KALOOR, COCHIN - 682017, REPRESENTED BY ITS MANAGING DIRECTOR, ABDUL ARSHAD, S/O.SAYEED MOHAMMED, RESIDING AT 2/204, KANJIRIKKAPALLIL HOUSE, UDAYANAPURAM P.O., VAIKOM, KOTTAYAM-686143.
BY ADVS.SRI.ANIL XAVIER SRI.M.SHAHEED AHMAD SRI.M.RISHIKESH SHENOY SRI.GEORGE G.POOTHICOTE
RESPONDENTS:
1. STATE OF KERALA, REPRESENTED BY THE INDUSTRIES SECRETARY, SECRETARIAT, THIRUVANANTHAPURAM - 695 001.
2. THE SECRETARY, HOME & VIGILANCE DEPARTMENT, SECRETARIAT, THIRUVANANTHAPURAM - 695 001.
Issues for consideration
2 issues framed by the court
Whether the Director of Enforcement or authorized officer is duty bound to take possession of property frozen under the PML Act, 2002.
Whether claims by creditors involving frozen funds can be adjudicated by the Special Court under Sec. 8(8) of the PML Act, 2002.
Parties & counsel
- petitioner
M/s. Bizarre Business Corporation Ltd.
- respondent
State of Kerala
- respondent
Directorate of Enforcement
- respondent
Creditors of M/s. Bizarre Business Corporation Ltd.
Coram
Case details
As recorded by the court registry
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