Brindco Sales Private Limited v. Directorate Of Enforcement

$~63 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(CRL) 496/2025 BRINDCO SALES PRIVATE LIMITED ....Petitioner Through:

Mr. Dayan Krishnan, Sr. Adv. with Mr. Adit S. Pujari, Mr. Shashwat Sarin and Mr. Shaurya Mittal, Advs.

versus DIRECTORATE OF ENFORCEMENT .....Respondent Through:

Mr. Zoheb Hossain, Special Counsel for ED with Mr. Vivek Gurnani, SC for ED with Mr. Kartik Sabharwal, Mr. Pranjal Tripathi, Mr. Kanishk Maurya and Mr. Kunal Kochar, Advs.

CORAM:

HON'BLE MR. JUSTICE VIKAS MAHAJAN

O R D E R

% 20.02.2025 1.

The present petition has been filed under Article 226 of the Constitution of India read with Section 528 BNSS seeking direction to the respondent/ED to de-freeze the petitioner's current account which stands frozen pursuant to the issuance of PAO No. 20/2023 dated 03.07.2023 in ECIR/HIU-II/14/2022.

2.

Further, it has been prayed that a direction be passed to the respondent to take the Fixed Deposit Receipts for an amount of Rs. 16,45,87,423.36/- in lieu of the attachment of the accounts.

3.

Mr. Dayan Krishnan, the learned Senior Counsel for the petitioner submits that various accounts, which have been enumerated in the synopsis were attached by the respondent/ED vide Provisional Attachment No. 20/2023 dated 03.07.2023. The said accounts are mentioned herein below: The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

4.

He submits that the petitioner is offering Fixed Deposit Receipt(s) for the total amount lying to the credit of the said accounts which is to the tune of Rs. 16,45,87,423.36/- and the said FDR(s) will be renewed for the same amount from time to time till the culmination of the proceedings in relation to PAO 20/2023 dated 03.07.2023.

5.

Notice was issued in the present petition vide order dated 12.02.2025 with a direction to the respondent/ED to file its Status Report. 6.

Mr. Zoheb Hossain, the learned Special Counsel for the ED, on instructions, submits that the substitution may be allowed for the Fixed Deposit Receipt(s) for the aforesaid amount in lieu of the attachment of aforesaid bank accounts pursuant to PAO 20/2023 dated 03.07.2023. The statement is taken on record.

7.

In view of the above, the petition is allowed and the petitioner is permitted to substitute the Fixed Deposit Receipt(s) for an amount of Rs. 16,45,87,423.36/- in lieu of the attachment of the accounts pursuant to PAO 20/2023 dated 03.07.2023. Needless to say that the petitioner will not create The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

any further lien on the Fixed Deposit Receipt(s) which have been allowed to be so substituted and handed over to the respondent/ED. 8.

In view of the aforesaid substitution being allowed by this Court, let the respondent/ED inform the concerned bank forthwith. 9.

The petition stands disposed of.

VIKAS MAHAJAN, J FEBRUARY 20, 2025/dss The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.