HC allows release of good on furnishing of Bank Guarantee & surety bond

Maruti Castings, Proprietor Nand Kumar Sharma Vs Union of India (Rajasthan High Court) Prima facie it cannot be said that in case of a registered person action only under Section 35(6) read with Section 73 or 74 of the Act can be taken and that Section 67 of the Act cannot be invoked, if the circumstances as indicated therein exist. The word ‘secreted’ is not defined under the Act, however, the same can be understood to mean anything which is concealed and in those circumstances even if the documents are not kept at the designated places where the same ought to be kept in terms of ...