Summary:
In a relief for Jignesh Bhajiyawala, the Gujarat High court on Tuesday quashed a direction by the Income Tax department to attach 15 PPF accounts of the businessman. The agency had accused Bhajiyawala of converting Rs1.02 crore of unaccounted money into high denomination currency immediately after demonetisation came into force. The petition said that the statements made by Bhajiyawala was made under duress and that he had retracted it. It also clarified that the agency cannot attach his Public Provident Fund account as these accounts gets protection under section 9 of the Public Provident Fund Act, 1968. Bhajiyawala and his father had been booked by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA)..