The court ruled on the management of frozen bank accounts pending investigation, allowing access under regulated conditions.

IN THE HIGH COURT OF MADHYA PRADESH AT INDORE BEFORE HON'BLE SHRI JUSTICE PRANAY VERMA

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ON THE 8 OF OCTOBER, 2025 WRIT PETITION No. 39422 of 2025 NAVIN CHAUKIKAR AND OTHERS Versus RESERVE BANK OF INDIA AND OTHERS Appearance:

Shri Shivam Rathore - Advocate for the petitioners.

ORDER This writ petition has been preferred by the petitioner under Article

226 of the Constitution of India praying for the following reliefs:

"a) Issue a writ of mandamusor any other appropriate writ or order to directing respondent no. 2 to. 8, respectively, to unfreeze the bank account of Petitioner. no.1 having Bank Account no: 87980100008952, IFSC Code: BARBODBPSIA, Customer Id:KA9066821, in Bank of Baroda, Old Palasia Branch, Indore, the Bank Account of the Petitioner no.2 having Bank Account no. 921010029968050, IFSC Code:UTIB0001680, Customer Id: 907501838 in Axis Bank, A.B- Road, Phadnis Colony Branch, Indore, the Bank account of the petitioner no.3 ‘Bank ‘Account no. 134488526853, ESC Code: ‘SBIN0004921, SBI Bank Kothri Branch, Schore (M.P), the Bank account of Petitioner no. 4 having Bank Account no. 110111564420, IFSC Code: “CNRB0006794, Customer Id: 317100130, in Canara Bank Periya Central University of Kerala, Thejaswini Hills Branch, Periya Kerela, the petitioner no.5 having Bank ‘Account no921010003249843, IFSC Code: UTIB0001183, Customer Id:904081189, in Axis Bank Branch, Rajgangpur, Orissa, the Petitioner no. 6 having Bank Account no. 50100558796114, IFSC Code: HDFC0000044, Customer Id: 209988169 in HDFC Bank, DLF Phase-1 Branch, Gurgaon, Harayana.

b) The, Hon’ble Court may order to directing respondent no.2 to 8 respectively, to unfreeze the above said Bank Accounts of all the petitioners and all its e-services associated with the bank accounts forthwith.

c) The, Hon’ble Court may direct to R-1 may frame the | guidelines on the same issue to regulate the UPI system by the persons in the certain specific safeguards during this process. |

d) Issue any other relief, which this Hon’ble court deems fit in the peculiar facts and circumstances of the case."

Signature Not Verified Signed by: JYOTI

2. Learned counsel for the petitioner has submitted that the case of the petitioner is squarely covered by the decision rendered by this Court in the case of Malcolm Murayis & Ors. Vs. State Bank of India and Others Malcolm Murayis & Ors. Vs. State Bank of India and Others passed in W.P.

No.1100 of 2024 dated 26.04.2024.

3. So far as the decision rendered in the case of Malcolm Murayis (supra) is concerned, the same reads as under:-

"1] This order shall also govern the disposal of W.P. Nos.1100/2024 and 1185/2024 as in both the petitions identical reliefs have been sought by the parties.

2] These petitions have been filed by the petitioners under Article 226 of the Constitution of India seeking the following reliefs:-

“a) This petition may kindly be allowed with cost.

b) To direct the Respondent No. 2 thereby directing Respondents to remove the hold/freeze on the Bank account of petitioners.

c) Issue such other orders, writ, and direction as this Hon’ble court deems fit in the interest of justice in favour of petitioner.”

3] The grievance of the petitioners is that they are engaged in trading of crypto and virtual currency, and having their bank accounts with State Bank of India and ICICI Bank, which have been freezed all of a sudden, only on the intimation sent by the cyber cells of the various police stations, viz., respondent Nos.3 to 9, to freeze the aforesaid account on the allegation that the accounts are involved in some cyber fraud. The amounts of which have also been disclosed, as to how much of the amount is credited in the account of the petitioners, which are linked to cyber crime/fraud.

4] Counsel for the petitioners has submitted t