HC stays Sakshi freeze order

HYDERABAD: The Andhra Pradesh High Court on Wednesday stayed the CBI Court’s order to freeze the current accounts of three Jagan media companies, Jagati publications, Indira Television and Janani Infrastructure. It, however, left the fixed deposits of about `94 crore at Oriental Bank of Commerce frozen.Justice B Chandra Kumar, in his interim order, permitted the petitioners (Jagati publications, Indira television and Janani infra) to operate the current accounts. He made it clear that all transactions, including salaries to employees, should be made through cheques and the media house would be obliged to submit monthly statements relating to financial transactions to the lower court dealing with the case. “Not only staff working in these organisations, but those dependent on them will be affected if they are not paid salaries,” he added.The judge also made it clear that none of the companies should alienate, transfer or sell any of the properties in question. The banks concerned should not release the fixed deposits without prior permission from the court. It may be recalled that the CBI had frozen bank accounts of the three firms with the SBI, Oriental Bank of Commerce and Indian Overseas Bank. Petitioners’ counsel said the company would provide bank guarantee for the amount in three current accounts, but not for the fixed deposits