1. Final hearing of this matter has been conducted through video conferencing.

2. This writ petition is directed against the order dated 30.7.2020 (Annexure P1) freezing two bank accounts of the petitioner by respondent No.5 as well as against the impugned order dated 11.8.2020 (Annexure P2) rejecting his application under S.457 of the CrPC by the learned Chief Judicial Magistrate, Korba finding no merit.

3. The aforesaid challenge has been made on following factual backdrop:
(i) On the complaint of the intervener, the Station House Officer, Police Outpost CSEB, Police Station City Kotwali, Korba, registered Crime No.653/2020 against Mohan Singh, Director of the petitioner Company for offence punishable under S.406, S.409 and S.420 of the IPC. Thereafter, by order dated 30.7.2020 (Annexure P1) respondent No.5 directed State Bank of India, TP Nagar and ICICI Bank, TP Nagar to give information about the petitioners bank accounts and also directed to freeze the said accounts which the respective banks have feezed immediately on the receipt of information from respondent No.5. Thereafter, the petitioner made an application under S.457 of the CrPC for defreezing his bank accounts stating i