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IN THE HIGH COURT OF KERALA AT ERNAKULAM
M.A.ABDUL HAKHIM, J
MONIPLUZ FINTECH PRIVATE LIMITED – Appellant
Versus
STATE BANK OF INDIA – Respondent
| Table of Content |
|---|
| 1. petitioner seeks account unfreezing. (Para 1) |
| 2. bank's suspicion prevents account operation. (Para 2) |
| 3. court establishes guidelines for account freezing by banks. (Para 3 , 4) |
| 4. bank must disclose reasons to petitioner. (Para 5) |
| 5. writ petition disposed with directives to bank. (Para 6) |
JUDGMENT
1. The Petitioner has filed this Writ Petition seeking a direction to unfreeze his account mentioned in the Writ Petition maintained with the Respondent/Bank.
2. The learned Standing Counsel for the Respondent/Bank, after getting instructions, submitted that the operation of the account of the Petitioner is prevented on account of the suspicion on the part of the Bank with respect to the operation of the account.
3. This Court in Abdul Azeez v. Union of India [2025 KLT OnLine 3447] considered the question of whether the Bank has the right or authority to freeze the accounts of its account holders on the basis of suspicion with respect to the transactions in the account by itself in the absence of any requisition to do so from a law enforcement agency. This Court held that till the time the RBI comes forward with a Standard Operating Procedure for the Banks to deal with susp
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