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HIGH COURT OF JUDICATURE AT ALLAHABAD, LUCKNOW
SHEKHAR B.SARAF, MANJIVE SHUKLA
Khalsa Medical Store Thru. Prop. Yashwant Singh – Appellant
Versus
Reserve Bank Of India Thru. Governor – Respondent
| Table of Content |
|---|
| 1. preliminary proceedings and parties' representation (Para 1 , 2 , 3) |
| 2. legal provisions relevant to bank account seizure (Para 4 , 5) |
| 3. judicial interpretation on freezing bank accounts (Para 7 , 8 , 9) |
| 4. guidance for handling cyber crime investigations (Para 10 , 11) |
| 5. specific requirements for lawful account freezing (Para 12 , 13 , 14 , 15 , 16) |
| 6. conclusion and directive on account de-freezing (Para 17) |
JUDGMENT :
Shekhar B. Saraf, J.
1. Heard Shri Jalaj Kumar Gupta, learned counsel for the petitioner and Shri Amit Jaiswal Ojus, learned counsel appearing for the Axis Bank.
2. In spite of several notices given to the Investigating Officer, Police Station Cyber Crime, Rachakonda, Hyderabad, Telangana, none has appeared on behalf of the same.
3. The office report indicates that service of the previous orders has been done upon the Respondent No. 4.
4. Learned counsel appearing on behalf of the Axis Bank has fairly submitted that till date, they have neither received any seizure order from the Respondent No. 4, nor received any indication as to the amount that is required to be put in lien with regard to the petitioner's bank account. Shri Amit Jaiswal refers to the no
The court established that freezing a bank account in a cyber crime investigation must specify the amount involved and comply with procedural requirements; otherwise, such an action is illegal.
Police can freeze bank accounts under Section 106 BNSS without prior notice, but only the amounts suspected of being linked to crimes, not entire balances; account holders must be informed post-seizu....
The court established that a bank account can be frozen under suspicion of criminal activity, and failure to report the freeze to the Magistrate does not invalidate the action.
Freezing an entire bank account without evidence linking the account holder to a crime violates the right to livelihood; only specific amounts should be frozen with proper justification.
Banks require police requisition to freeze accounts and must provide clear communication and justification for such actions.
The main legal point established in the judgment is the requirement to follow the procedure laid down under Sec. 102 Cr.P.C and the need for sufficient evidence to support the freezing of a bank acco....
Seizure of assets under S.102 CrPC requires compliance with statutory provisions and cannot be based solely on suspicion.
Bank freezing limited to requisitioned amounts; follow SOP and guidelines for suspicion-based holds and grievance redressal.
The court clarified that banks may freeze accounts only on police requisitions, limiting actions against account holders without suspicion of fraud.
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