Order to freeze respondent’s Bank account couldn’t’ be passed without direction u/s 132(3) of 1961 Act

FEMA : Where investigating officer in exercise of power under section 37(3) directed a bank that respondent should not be allowed to operate his bank account as said account was suspected to be involved in a case under Act, in view of fact that an order under section 132(3) of 1961 Act putting a restraint on operation of account of respondent was not at all passed, impugned direction was to be quashed

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195131/order-to-freeze-respondent’s-bank-account-couldn’t’-be-passed-without-direction-us-1323-of-1961-act.aspx