ORDER :

The petitioners are before this Court calling in question order dated 23-12-2021 passed by the I Additional Chief Metropolitan Magistrate, Bengaluru in Crime No.256 of 2021 whereby the amount from the personal account of the 1st petitioner is transferred to the account of the 2nd respondent.

2. Brief facts that lead the petitioners to this Court, as borne out from the pleadings, are as follows:-

The 1st petitioner is the whole time Director of “PhonePe Private Limited”/2nd petitioner. The 2nd petitioner is a pioneer in digital payments and financial services and is also engaged in the business of providing digital payment platform services enabling end users and customers to make payment and merchant/business entities to accept payment by card which is popularly known as “Unified Payment Interface” (‘UPI’). The 2nd petitioner is the Company and as observed hereinabove claimed to be a leading player in the digital payment ecosystem.

3. The 2nd petitioner maintains a bank account with respondent No.3/Yes Bank Limited (‘Nodal Account Bank’ for short), a Banking Company established under the Companies Act, 1956. The Nodal Account Bank is expected to carry out business for the nodal