Whitefield International Pvt. ... vs State
2002 Latest Caselaw 331 Del

ORDER

1. It is submitted by learned Counsel for petitioner that it would be proper and in the interest of justice if the amount standing in the credit of the petitioner's account as of date after making the reverse enteries by the Bank, is converted into a Fixed Deposit Receipt which shall be kept with the bank with the direction that the same will not be allowed to be operated by the petitioner without the order of the Court. Once the Fixed Deposit Receipt has been made, the petitioner's account may be allowed to be operated normally. Learned Counsel for State has no objection to the same.

2. In view of the statements of learned Counsel for parties, I direct Central Bank of India, Janpath to convert the amount as stands credited in account No. CD-101205 in the name of M/s. Whitefield International Private Limited after making the reverse entries into a Fixed Deposit Receipt which the bank shall hold and any opeation of that receipt shall to the orders of the Trial Court. After the money has been converted into a Fixed Deposit Receipt, the operation of the account may be permitted on normal terms and conditions. The bank shall be at liberty to deduct any amount that is due to the bank for the transactions, from the petitioner without disturbing the Fixed Deposit Receipt mentioned above.

3. Crl.M.(M)479 of 2002 stands disposed of.