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KEY TAKEAWAYS

  • The Karnataka HC has ordered CBI to release the cash seized worth ₹53.46 lakhs from Sachin Narayan, an associate of Congress leader DK Shivakumar.
  • The court held that the petitioners were legally entitled for interim custody of the seized cash after going through the documents produced before the court.
  • However the petitioners were subjected to furnish an indemnity bond and surety of equal amount for satisfaction of the court.

BACKGROUND DETAILS

  • The CBI police conducted a search during the course of investigation against Congress leader Shivakumar in the premises of M/s. Wellworth software Pvt. Ltd and in the residence of Sachin Narayan.
  • The police recovered cash worth ₹47,98,000 and another bundle of cash ₹5,48,000 from the residence. The cash was seized by CBI under the prevention of Corruption Act and produced before the Special Judge.
  • The Special Judge had rejected the application of the Petitioners which led them to appeal in High Court.


FURTHER DETAILS

  • The Petitioners pointed out that the amount was regularly collected from various cable operators as per operations of the company and a receipt of acknowledgment was issued thereof.
  • The bench relied upon the judgements of apex court in the case of Sunderbhai Ambalal Desai v. State of Gujarat with C.M Mudaliar vs. State of Gujarat (2002) 10 SCC 283.
  • The Court was of the view that there is absence of prima facie material to show any nexus between the seized amount and the alleged disproportionate assets.

What do you think about the order of the Karnataka HC? Let us know in the comments section below!


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