PACL INDIA LTD. REP. BY ITS DEVELOPMENT MANAGER, MR. B. VISWANADHAM Vs. THE AXIS BANK A BODY CORPORATE CONSTITUTED UNDER THE BANKING COMPANIES

JUDGEMENT

(1.) THIS Court issued Rule Nisi on 3.12.2007.

(2.) PACL India Limited, the petitioner, filed the present Writ Petition praying for issuance of an appropriate Writ Order or direction more particularly one in the nature of Writ of Mandamus declaring the action of the respondents 2 to 9 in freezing the accounts of the petitioner company basing on the letter of the 10th respondent dated 21.8.2007 as illegal arbitrary, ultra vires , malafide and against the principles of natural justice and pass suitable orders. respondent -the Sub -Divisional Police Officer, Vikarabad, Ranga Reddy District addressed letters to the concerned following institutions as R1 to R9, and the letter dated 21.8.2007 addressed to Punjab National Bank, M.G. Road, Secunderabad -R7 reads as under:

(3.) IN the light of such similar letters, which had been addressed to the respective banking institutions there has been freezing of accounts of the writ petitioner.