LAXMAN OVERSEAS Vs. UNION OF INDIA

JUDGEMENT

(1.) This writ petition under Article 226 of the Constitution challenges the action of the Respondent Directorate Revenue Intelligence ("DRI") in continuing to keep the bank accounts of the Petitioner frozen.

(2.) According to the Respondents, as stated in their counter affidavit in the present case, on the evening of 7th September 2005 certain consignments of imported duty free high value computer parts imported in the name of M/s. Everest Exports were taken delivery of at the Air Cargo complex, IGI Airport, New Delhi. They are alleged to have been taken to the residence of Shri Bhuvan Aggarwal the proprietor of the Petitioner M/s. Laxman Overseas, the petitioner herein, and unloaded there. During a subsequent search of the Petitioner's premises the imported goods were found to be high value computer parts. Their present market value was estimated at Rs. 1.80 crores whereas the description of the goods declared in the Bill of Entry was "mounted PCB for digital data recorder" and their value was declared as Rs. 6,76,060 (C.I.F. value). It is alleged that during the search of the petitioner's premises a few days later, PCBs of inferior quality/junk old PCBs were apparently stored for being to the factory premises at Noida for substitution in place of duty free imported goods in future. A reference is made in the counter affidavit to certain other transactions involving the Petitioner which led to the conclusion that the Petitioner was exporting junk material by declaring it as "mounted PCBs for telecommunication, plastic grating and sewing needles."

(3.) In relation the petitioner's bank accounts which were frozen, it is stated in para 9(d) of the counter affidavit as under: