No Freezing of Bank Accounts beyond alleged Amount involved in Financial Frauds: Madras HC [Read Order]

Courts across India have consistently ruled that accounts cannot be frozen indefinitely without informing the account holders of the reasons and extent of the freeze
Madras High Court - Madras HC - Freezing of Bank Accounts - Financial Frauds - alleged Amount - taxscan

The Madras High Court has ruled that bank accounts cannot be freezed beyond the alleged amount involved in the financial frauds. Dr. Justice G Jayachandran observed that “Under the guise of investigation, order freezing the entire account without quantifying the amount and period cannot be passed. Such order will be construed as violation of the…

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