HC refused to de-freeze account of company dishonestly inducing investors to invest in cloud particles

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...