The problem started when the petitioner received an email from Axis Bank on March 27, 2024, stating that Rs 1,15,799 would be attached as per a directive of the Execution Direction (ED) However, Axis Bank went beyond this directive and froze the entire account of the applicant.
Advocate Ayush Jindal, representing the petitioner, argued that the petitioner merely wished to operate his account while maintaining the freeze on the amount specified by the Enforcement Directorate (ED) in the Provisional seizure order dated March 26, 2024. The petitioner sought to ensure that only the specified amount was frozen, rather than restricting the entire account.
Judge Dharmesh Sharma noted that Axis Bank’s actions required a thorough scrutiny. He directed the bank to review the situation thoroughly and issue a reasoned decision. order by September 12, 2024
The petition sought instructions against both Axis Bank and the Compliance Directoratein relation to the operation of the petitioner’s bank account with Axis Bank. The petitioner’s counsel submitted that at the moment, they are seeking an interim relief only to enable the petitioner to operate his account, excluding the amount frozen as per the Enforcement Directorate’s order dated March 26, 2024.
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