IN THE HIGH COURT OF ORISSA AT CUTTACK CRLMP No.32 of 2026 Challenging the order of seizure dated 15.12.2025 issued by the IIC, Balugaon P.S.

IIFL Finance Limited, Bhubaneswar …. Petitioner -versus-

1. State of Odisha

2. Director General of Police, Cuttack

3. Superintendent of Police, Khurda

4. Inspector-in-Charge, Balugaon Police Station, District-Khurda

5. State Bank of India, represented by its Chief Manager, Balugaon Branch, District-Khurda …. Opposite Parties Advocates appeared in this case through Hybrid Mode :

For Petitioner : Mr. Sidhant Das, Advocate For Opposite Parties : Mr. S.K. Rout, A.S.C.

(For O.P. No.1)

CORAM:

HON’BLE MISS JUSTICE SAVITRI RATHO .……………………………………………………………………………

Date of Hearing: 03.02.2026 and 13.02.2026 Date of Judgment: 31.03.2026 ……………………………………………………………………………..

Savitri Ratho, J. The CRLMP has been filed praying for a direction to the Opposite Parties to take photographs and prepare proper and detailed panchnama of the gold articles, and not to seize the gold articles and to direct the Opposite Parties to take bond from the Petitioner- Company, specifying that the gold articles would be produced by the Company as and when required during the course of trial and/