When Amount received can be termed as proceeds of crime liable to be confiscated or for compensation

Last updated: 11 September 2021

Court :
Delhi High Court

Brief :
In RAVINA AND ASSOCIATES PVT LTD & ANR. v. CENTRAL BUREAU OF INVESTIGATION & ANR. [CRL.M.C. 1372/2021 CRL.M.A. 8423/2021 dated September 2, 2021], RavinaAnd Associates Pvt Ltd. ("the Petitioner") were maintaining accounts with National WestMinister Bank, London in which the amount transferred by TPE ("Techno promexport Russia") to RAPL ('Ravina And Associates Pvt Ltd.'') had been frozen by the order of the Special Court and could not be operated. And the frozen amount is received in India is beyond the amount in relation to the impugned transactions with TPE. So the amount which does not relate to the impugned transaction along with the interest accrued thereon be directed to be released to the Income-Tax authorities for recovery of the tax demand due towards the Petitioner as the Department sought recovery of income tax penalty and interest payable by Ms. Ravina Khurana and by RAPL.

Citation :
CRL.M.C. 1372/2021 CRL.M.A. 8423/2021 dated September 2, 2021