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HC refused to de-freeze account of company dishonestly inducing investors to invest in cloud particles
Case Law Details
- Case Name
- Vuenow Infotech Pvt. Ltd. Vs Union of India and Another (Punjab and Haryana High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Punjab and Haryana HC
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Vuenow Infotech Pvt. Ltd. Vs Union of India and Another (Punjab and Haryana High Court)
Punjab and Haryana High Court refused to de-freeze bank account of company alleged to have dishonestly induced individuals/ investors to invest in cloud particles thus involved in scheduled offences under Prevention of Money Laundering Act, 2002.
Facts- The ED initiated inquiries/investigation under the 1999 Act in respect of the group companies, namely Ms/ Vuenow Infotech Pvt. Ltd. (M/s VIPL), M/s Vuenow Marketing Services Ltd. (M/s VMSL), M/s Zebyte Infotech Pvt. Ltd. (M/s ZIPL) and M/s Zebyte Rental Plan...
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