- 1 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM CRIMINAL PETITION NO. 14148 OF 2024 BETWEEN: 1. AXIS BANK LTD A BANKING COMPANY CARRYING ON THE BANKING BUSINESS UNDER THE BANING REGULATION ACT, 1949 INCORPORATED UNDER THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT 'TRISHUL', 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE LAW GARDEN, ELLIS BRIDGE AHMEDABAD -380 006, GUJARAT. AND HAVING ONE OF ITS BRANCH OFFICE NEW ALIPORE, KOLKATA, 60 BANKIM MUKHERJEE SARANI NEW ALIPORE KOLKATA-700 053, WEST BENGAL. REPRESENTED BY ITS BRANCH HEAD MR. ARNAB KUMAR CHANDRA AGED ABOUT 47 YEARS, ALSO AT 4/18, BRINDAVAN BASAK STREET HATKHOLA, HATKOLA S.O. KOLKATTA WEST BENGAL - 700 005. WEST BENGAL - 700 005. …PETITIONER (BY SRI. UNNIKRISHNAN .M, ADVOCATE) Digitally signed by AL BHAGYA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 AND: 1. THE STATE OF KARNATAKA BY GOVINDAPURA POLICE STATION K G HALLI SUB-DIVISION BANGALORE DISTRICT REPRESENTED BY SPP HONBLE HIGH COURT OF KARNATAKA BANGALORE - 01 . 2. SMT. NIKHITA SUBHAS BHUYYAR AGED ABOUT 24 YEARS D/O SUBHAS BHUYYAR RESIDING AT SRI TEJA WOMENS PG HBCS LAYOUT, NAGAWARA BENGALURU CITY KARNATAKA - 560045. …RESPONDENTS (BY SMT. RASHMI JADHAV, ADDL. SPP FOR R1; R-2 SERVED AND UNREPRESENTED) THIS CRL.P IS FILED U/S 482 CR.PC (FILED U/S 528 BNSS) PRAYING TO SET ASIDE THE ORDER DATED 23.10.2024 PASSED BY THE HONBLE COURT OF THE 11TH ADDL. CJM, BENGALURU IN CR.NO.306/2024 I.E., ANNEXURE-C IN TERMS OF WHICH, THE PETITIONER IS DIRECTED TO DEFREZE THE SAVINGS/CURRENT ACCOUNT BEARING A/C NO.924010012463457 AND A/C NO.40862269258 MAINTAINED IN THE PETITIONER'S BANK AND TRANSFER THE SAME TO THE ACCOUNT OF THE RESPONDENT NO.2. - 3 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 THIS PETITION, COMING ON FOR FURTHER HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM ORAL ORDER In the captioned petition, the petitioner, being a financial institution, is challenging the order dated 23.10.2024 passed by the XI Additional Chief Judicial Magistrate, Bengaluru in Cr.No.306/2024 on an application filed under Sections 451 and 457 of the Code of Criminal Procedure, 1973 (for short "Cr.P.C.”) by the complainant/respondent No.2, whereby the petitioner/financial institution was directed to defreeze the bank account of the accused and transfer the said amount to the bank account of the complainant/respondent No.2. 2. The petitioner/financial institution is aggrieved by the impugned order primarily on the ground that it was not afforded an opportunity of hearing prior to the passing of the order at the instance of the second respondent/complainant. - 4 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 3. Learned Additional State Public Prosecutor, relying upon a similar order passed by this Court in an identical and analogous matter, has submitted that these matters be remitted to the jurisdictional Magistrate to consider the application under Sections 451 and 457 Cr.P.C. afresh, after providing an opportunity of hearing to the petitioner/financial institution. 4. The petitioner/financial institution contends that multiple cases are registered against the accused both within the State and across the country, and that there are several orders directing the petitioner to unfreeze the accounts of the accused and transfer the amounts to the respective complainants. Consequently, the petitioner/financial institution submits that unless it is heard, it is unable to execute these multiple orders effectively. 5. On the other hand, learned counsel for the second respondent/complainant contends that, even in the - 5 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 absence of rival claims, the present petition is being filed and interim order is obtained, thereby effectively preventing the complainant from receiving the amount legally due to them under the order of the jurisdictional Magistrate. 6. This Court finds some force in the submissions of the second respondent/complainant. The petitioner/financial institution is directed to produce documents, if any, showing the existence of rival claims. While the matter is to be remitted to the learned Magistrate, if the petitioner places on record the multiple orders passed by various Courts, a detailed hearing may not be necessary, unless material documents are produced. In the event the learned Magistrate finds that there are no rival claims or multiple orders, there shall be no impediment to the Magistrate revising the order and directing the petitioner/financial institution to forthwith remit the amount. It is further clarified that the petitioner/financial institution shall pay interest at the rate - 6 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 of 8% per annum from the date of the impugned order, and shall compute and remit the interest along with the principal amount due to the complainant. 7. With the above observations, this Court proceeds to pass the following: ORDER (i) The petition is allowed. (ii) The order dated 23.10.2024 passed by the XI Additional Chief Judicial Magistrate, Bengaluru in Cr.No.306/2024 is hereby set aside. (iii) The petitioner/financial institution is granted a period of two weeks to furnish details of rival claims or multiple orders, if any. In the event such documents are placed on record, the learned Magistrate shall ensure that the order of seniority of the earlier orders is taken into consideration. The request of the complainant, who is entitled to the benefit of the earliest order, shall be prioritized, and the amount shall be remitted from the account of the accused to the account of the complainant accordingly. - 7 - HC-KAR NC: 2025:KHC:34357 CRL.P No. 14148 of 2024 (iv) This exercise shall be completed within six weeks from the date of receipt of the certified copy of this order. (v) The learned Magistrate shall decide the application afresh within six weeks from the date of receipt of the requisite details from the petitioner/financial institution, which period includes the two weeks' time granted for submission of the details. Sd/- (SACHIN SHANKAR MAGADUM) JUDGE ALB List No.: 1 Sl No.: 0