RAJIV CHAKRABORTY RESOLUTION PROFESSIONAL OF ERA INFRA ENGINEERING LIMITED Vs. NAVEEN TYAGI BRANCH MANAGER, AXIS BANK LIMITED & ORS.

JUDGEMENT

(1.) The hearing was conducted through video conferencing.

(2.) Petitioner has filed the subject petition seeking initiation of contempt proceedings against the respondent-Axis Bank for failing to comply with the judgment dated 14.11.2019 in W.P. (C) No. 9566/2019.

(3.) By order dated 14.11.2019, this Court had directed that the freeze of the bank account, in exercise of powers under Section 102 of the Prevention of Money Laundering Act , 2002 (in short 'PMLA'), could not be sustained and was quashed. However, it was held that said order would not affect the order dated 07.10.2019 passed by the authority under Section 5 of the PMLA.