AI Structured Summary
Not yet generated for this judgment
Judgment
R.S. Sodhi, J.—Criminal Revision No. 319/2001 seeks to challenge the order of the learned. Additional Chief Metropolitan Magistrate dated 30-4-2001 whereby the learned Magistrate has declined to release the currency seized by the Enforcement Directorate as being proceeds of sale of foreign exchange. The learned Counsel for the petitioner submits that the currency seized by the Enforcement Directorate per se is not the case property and at the highest value thereof is sought to be secured by the seizure of the currency in the eventuality of final adjudication going against the petitioner. He, Therefore, submits that if the currency is released to him against security, which is equally strong, no prejudice would be caused either in the adjudication proceedings or otherwise.
The learned Addl. Solicitor General submits that he petition is not maintainable since the Order challenged is interlocutory. However, he submits that there can be no greater security than the currency itself, which has been seized. Further adjudication proceedings are in the progress and it will be open to the petitioner to agitate his case before that Authority.
Be that as it may, I am of the opinion that in the interest of justice, there is sufficient power with this Court u/s 482 of Cr. P.C., which can set right any injustice likely to arise from a situation while at the same time ensuring that the proceedings are in no manner prejudiced.
I am, Therefore, of the opinion that the currencies seized by the Enforcement Directorate can be released to the petitioner on this furnishing a bank guarantee to the sum of Rs. five lakhs to the satisfaction of the Enforcement Directorate.
The learned counsel for the petitioner undertakes not to challenge the identity of the seized money, not to seek any benefit challenging the identity of the seized money.
The impugned order is set aside.
With this, Criminal Revision No. 319/2001 is disposed