$~95 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 18726/2025, CM APPL. 77883/2025 & CM APPL.

2529/2026 NEO WEALTH PARTNERS PVT LTD & ANR. .....Petitioners Through: Mr. Anuj Berry, Mr. PSS Bhargava, Mr. Parimal Kashyap, Advs.

versus GOVT OF NCT OF DELHI .....Respondent Through: Ms. Puja S Kalra, CGSC with Mr.

Kalyan Babu , GP, Advs. for R-1 and

2.

SI Nitesh Sharma, IO Delhi Police.

CORAM:

HON’BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

O R D E R

% 15.01.2026

1. The petition is for the following reliefs:

“a. Issue an order or direction or writ, including a writ in the nature of mandamus under Article 226 of the Constitution of India directing the Respondent to immediately lift the lien/ hold imposed on Petitioner No. 1’s bank account bearing number 57500001280322 maintained with HDFC Bank for an amount of INR 15,34,79,808 and permit the Petitioner No. 1 to operate the said bank account without any hindrance;

b. Issue an order or direction or writ, including a writ in the nature of mandamus under Article 226 of the Constitution of India directing the Respondent to immediately lift the lien/ hold imposed on Petitioner No. 1’s bank account bearing account number 57500001280322 maintained with HDFC Bank and communicate the same to the HDFC Bank immediately;

c. Issue an order or direction or writ, including appropriate directions in the form of mandamus under Article 226 of the Constitution of India, directing the Respondent to frame appropriate guidelines/ framework for imposing lien/ hold on the bank accounts, including providing appropriate reasons for marking lien/ hold, prescribing timelines for operation of the lien/hold, the remedies available to the account holders seeking lifting of such lien/ hold; and d. Pass such other and further orders as this Hon'ble Court may deem fit and proper in the facts and circumstances of the case and in the interest of justice.”

2. The petitioners claim to operate accounts with HDFC Bank as also other commercial Banks for its regular business activities.

3. Qua the same petitioners, earlier a dispute had arisen, and the Court vide order dated 29.07.2025 in W.P.(C) 10479/2025, passed the following directions:

“1. The present petition has been filed by the petitioners being aggrieved by the lien/ hold imposed in respect of the current and overdraft bank accounts of the petitioners, at the behest of the respondent. It is submitted that the said lien/hold has been imposed in respect of the petitioner’s bank accounts bearing nos. 57500001280322 2406234063528350, 916020066792536 (maintained with HDFC Bank, AU Small Finance Bank and Axis Bank), sometime between 12.07.2025 to 14.07.2025. The lien/hold is to the tune of Rs.22,33,87,015/-.

2. The present petition has been filed by the petitioner no.1, a SEBI- registered investment advisor and part of a prominent group called Neo Group (stated to be an established wealth and asset management group with legitimate operations in Delhi). The petitioner no.2, is the Head of Operations of the Neo Group and stated to be involved in overseeing the day-to-day affairs of the petitioner no. 1.

3. It is submitted that the lien/hold was placed arbitrarily and in a mechanical manner, without any prior notice and without any authority of law. It is submitted that in case the lien/hold is not immediately lifted, it will result in severe consequences for the petitioners, including exposing the petitioner no. 1 to default on its financial obligations to its lenders and resulting in disruption of business.

4. Vide order dated 22.07.2025, the respondent was directed to file a Status Report. The Status Report filed in pursuance of the aforesaid direction/s, after taking note of the genesis of the complaint which led to the said lien/hold of the bank accounts of the petitioners, inter alia, states as under:-

“10. It is submitted that upon enquiry, Mr. Abhishek Sanghla was examined and he stated that he was dealing with the shares of Mr. Sneh Kirti Nagra and had transferred the concerned