Bank account frozen by cyber cell

305 votes

The following are the remedies available to you as per the facts of your case -

1. Before the Investigating Authority
   Section 102(3) of the Code of Criminal Procedure ("CrPC") has been amended to allow the investigating authority to make a decision about whether to return seized property during an investigation. This decision is based on the authority's determination of whether the continued retention of the property is necessary for the investigation, and may be conditional on the person executing a bond undertaking to produce the property in court when required.
    

2. Before the Magistrate
   Although options such as those described above are available, parties often have to go to court to seek relief. In such situations, one potential remedy is to approach the relevant Magistrate under either Section 451 or Section 457 of the CrPC. Courts have previously ordered the release of frozen bank accounts on the condition that the party executing a bond for the amount in question before the Magistrate and produce the funds as directed by the Magistrate. Section 457 of the CrPC allows the Magistrate to deliver the seized property to the rightful owner, including in the case of frozen bank accounts. An application made under Section 457 of the CrPC is maintainable for the release of a frozen bank account.
    

3. Before the High Court
   Another option available to parties is to invoke the writ jurisdiction of the High Courts, alleging that the seizure of property violates their right to livelihood under Article 21 of the Constitution and/or is arbitrary and thus a violation of Article 14. However, because writ jurisdiction is considered an extraordinary remedy, the Court may reject a writ petition if an effective alternative remedy in the form of a statutory remedy is available under Sections 451 and 457 of the CrPC, and decline interference if the petitioner has not exhausted such remedies. High Courts may also direct petitioners to approach the Magistrate under Section 451 or 457 of the CrPC, rather than hear the matter on merits under writ jurisdiction. However, in the case of Madhu vs. Sub Inspector of Police, the Court held that a petitioner may approach the High Court itself if the freezing of assets is illegal and can be challenged without reference to factual disputes.

LawRato LawRato

751 votes

Hi,
Bitcoin and other crypotocurrency transactions are not permitted in India. Because RBI was restricted and banned the cryptocurrency ( like Bitcoin, ETH, Ripple coin , and other coins). Now the cryptocurrency case was pending at supreme court of India. The case was in the final stage. Reliance also planning to launch Jio coin. If RBI permits and supreme court
gives the guidelines of cryptocurrency,
The Jiocoin is the first coin to launch in India. So, wait for the final hearing of supreme court. Once the Apex court gives guidelines , then your bank account problem was solved.
( Depends on the rules and guidelines by RBI and Supreme court)
Have a nice day. Good luck.

Advocate Syam Charan Godi LawRato

560 votes

please visit your bank branch and understand the reason for freezing. please provide your kyc documents and also proofs of your transaction -bitcoin to prove genuinity. take bank managers support to remove account freezing

Advocate Rajesh Xavier LawRato

75 votes

According to the law, banks must freeze all accounts related, whether primary, secondary or tertiary, immediately upon receiving a report of a cybercrime. The victim will be able to recover the money transferred online initially, but it is difficult to unfreeze their account later.

Advocate Chikirsha Mohanty LawRato