- 1 - HC-KAR NC: 2025:KHC:38644 WP No. 24116 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 24TH DAY OF SEPTEMBER, 2025 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO. 24116 OF 2025 (GM-RES) BETWEEN: MR. RAKESH R SHANKAR S/O S. RAVISHANKAR, AGED ABOUT 40 YEARS, R/A 264/8, 100 FEET ROAD, ANBU COLONY, ANNA NAGAR, CHENNAI, TAMIL NADU, 600040. …PETITIONER (BY SRI. DHANUSH M., ADVOCATE) AND: 1. THE STATE OF KARNATAKA CENTRAL CRIME BRANCH, ECONOMIC OFFENCES WING, BENGALURU CITY, NEAR BMTC BUS DEPOT, SHANTINAGARA, BENGALURU-560027. 2. ICICI BANK LTD, PLOT NO.282283/P, SILVASSA - VAPI ROAD, OPPOSITE JUMMA MASJ ID, AMLI INDUSTRIAL ESTATE, SILVASSA, DADRA AND NAGAR HAVELI AND DAMAN AND DIU 396230. 3. STATE BANK OF INDIA, KILPAUK BRANCH, KILPAUK 47/21, 47/21, CHENNAI, TAMIL NADU-600010. Digitally signed by CHAITHRA A Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:38644 WP No. 24116 of 2025 4. HDFC BANK, ANNA NAGAR BRANCH 5TH AVENUE, OLD NO.56, NEW NUMBER 16, GROUND FLOOR, 16/1, 5TH AVENUE, AC BLOCK, ANNA NAGAR, CHENNAI, TAMIL NADU-600040 …RESPONDENTS (BY SRI. RAHUL RAI K., HCGP FOR R1; SRI. JAI M. PATIL, ADVOCATE FOR R2) THIS WP IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA READ WITH SECTION 528 OF THE BNSS, 2023 PRAYING TO QUASHING AND SETTING ASIDE THE DIRECTION ISSUED BY THE R-1 TO THE BANKERS OF THE PETITIONER I/E R-2 AND 3 AND 4 FOR DEBIT FREEZE OF THE BANK ACCOUNTS OF THE PETITIONER AND ALLOW THE PETITIONER TO MAKE DEBIT TRANSACTIONS IN ITS ACCOUNTS (ANNEXURE G H & J). THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM ORAL ORDER The captioned petition is filed seeking a direction against the respondent No.1 to defreeze the account and communicate the same to the respective banks and allow the petitioner to make debit transactions in its accounts. 2. On perusal of the records, it appears that the Investigating Officer has directed the banks to freeze the - 3 - HC-KAR NC: 2025:KHC:38644 WP No. 24116 of 2025 petitioner’s account pursuant to a complaint lodged by Zetwerk Manufacturing Businesses Private Limited. In the complaint, it is alleged that the petitioner, being a former employee of the company, has siphoned off crores of rupees. Acting upon the said complaint, a crime has been registered, and the Investigating Officer, post registration of the crime, has directed the banks to freeze the petitioner’s account. 3. The petitioner, instead of approaching the jurisdictional Magistrate to seek appropriate orders under the law, has approached this Court directly, bypassing the statutory remedy available before the Magistrate. In view of this, this Court is not inclined to grant any relief at this stage. It is also necessary to note that the banks and the complainant are stakeholders who ought to be heard before any direction affecting the frozen accounts is issued. - 4 - HC-KAR NC: 2025:KHC:38644 WP No. 24116 of 2025 4. Though the action taken by respondent No.1 in calling upon the banks to freeze the petitioner’s account may appear unilateral, the petitioner has an efficacious and adequate remedy available under the law by filing an appropriate application before the jurisdictional Magistrate, who is empowered to consider the matter and pass appropriate orders. 5. Accordingly, while reserving liberty to the petitioner to pursue the remedy before the Magistrate, the present petition is disposed of. Sd/- (SACHIN SHANKAR MAGADUM) JUDGE CA List No.: 1 Sl No.: 69