PIYUSH COLONISERS LTD. Vs. STATE

JUDGEMENT

(1.) LEARNED Counsel for the petitioner contends that in respect of the condition imposed by the trial Court of an FDR being made of the amounts lying in the Bank accounts of the petitioner in the name of the Court, the said condition be modified to furnishing a Bank guarantee to the satisfaction of the trial Court.

(2.) ON hearing learned Counsel for the parties, it is apparent that the intent of 5 the order passed by the trial Court is to preserve the money in question and the funds, should be available.

(3.) IN view of the aforesaid, I deem it appropriate to modify the condition in the impugned order for operation of the Bank accounts to furnishing a Bank guarantee for the amounts lying in the accounts instead of the FDR in the name of the Court. It is stated that the FDR has already been furnished and, thus, necessary steps would be taken in terms of the present order before the trial Court.