OPTO CIRCUIT INDIA LTD. vs AXIS BANK

The Supreme Court addressed the appeal concerning the freezing of bank accounts of the appellant, Opto Circuit India Ltd., by the High Court of Karnataka. The appellant argued that the freezing prejudiced their ability to make statutory payments and pay employee salaries. While the Court did not interfere with the initiation of proceedings under the Prevention of Money-Laundering Act, 2002, it acknowledged the impact of the freezing on the appellant's operations and limited the scope of consideration in the appeal.