Bank Accounts Frozen under PMLA: Delhi HC Dismisses Plea to De-freeze ₹5 Cr Citing Lack of Urgency and Availability of Unfrozen Funds

The Delhi High Court has dismissed a plea to defreeze bank accounts attached under PMLA (Prevention of Money Laundering Act), citing a lack of urgency and availability of unfrozen funds. The court emphasized that while indiscriminate freezing of accounts is a concern, in this specific case, the petitioner had not demonstrated immediate financial hardship or that all their funds were frozen. This ruling underscores the court's cautious approach in PMLA cases, balancing the need for investigation with the rights of the accused, and considering the overall financial situation of the petitioner.