- 1 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 1ST DAY OF APRIL, 2026 BEFORE THE HON'BLE MR. JUSTICE M.NAGAPRASANNA CRIMINAL PETITION NO. 4289 OF 2026 BETWEEN: AXIS BANK LTD A BANKING COMPANY. CARRYING ON THE BANKING BUSINESS UNDER THE BANKING REGULATION ACT, 1949. INCORPORATED UNDER THE COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT 'TRISHUL'. 3RD FLOOR, OPP SAMARTHESHWAR TEMPLE. LAW GARDEN, ELLIS BRIDGE. AHMEDABAD - 380 006. GUJARAT 1. AND HAVING ONE OF ITS BRANCH OFFICE AT SURVEY NO.529, 530/2. WARD NO.23, MEENCHANDA, HIBA TOWER. OPP FORCE MOTORS, CALICUT ROAD THIRUVANNUR POST. KOZHIKODE 673 029. 2. AXIS BANK LTD, GROUND FLOOR, PU-5, PITAMPURA. NEW DELHI 110 088. 3. AXIS BANK LTD, CITY GATE COMPLEX GF. SHOP NO. 18.19. VISHAL HOTEL. VISHAL CHAR RASTA. NEW VASNA AHMEDABAD - 380055 REPRESENTED BY ITS BRANCH HEAD, Digitally signed by SANJEEVINI J KARISHETTY Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 MR. SAURABH AGGARWAL, AGED ABOUT 40 YEARS, ALSO AT MR. SAURABH AGGARWAL S/O. RAJENDRA KUMAR AGGARWAL, 50-51, D.P. BLOCK, 2ND FLOOR, VTC PITAMPURA DIST NORTH WEST DELHI DELHI-110088 …PETITIONER (BY SRI. UNNIKRISHNAN M., ADVOCATE) AND: 1. THE STATE OF KARNATAKA BY SOUTH EAST CEN CRIME POLICE STATION, SOUTH EAST DIVISION. BANGALORE DISTRICT. REPRESENTED BY SPP HON'BLE HIGH COURT OF KARNATAKA. BANGALORE 01. 2. MR. K.SHANKARANARAYANA BHAT, S/O. SUBRAYA BHAT, AGED ABOUT 57 YEARS. RESIDING AT NO.249, 7TH A CROSS, 4TH MAIN, SHASTHRY NAGAR. BENGALURU 560 070. KARNATAKA …RESPONDENTS (BY SRI.B.PUSHPALATHA, ADDL. SPP FOR R1) THIS CRL.P IS FILED UNDER SECTION 482 CR.PC (FILED U/S 528 BNNS) PRAYING TO SET ASIDE THE ORDER DATED 19.11.2025 PASSED BY THE HONBLE 47TH A.C.J.M BENGALURU IN CR.NO.510/2025 IE. ANNEXURE-C IN TERMS OF WHICH THE PETITIONERS IS / ARE DIRECTED TO DEFREEZE THE SAVINGS / CURRENT ACCOUNT BEARING NO.924020019822412 A/C.NO.923020063360897 AND A/C NO.923020006936507 MAINTAINED IN THE PETITIONERS BANK AND TRANSFER THE SAME TO THE ACCOUNT OF THE RESPONDENT NO.2 I.E A/C NO.54010141212, STATE BANK OF INDIA, BENGALURU. - 3 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.NAGAPRASANNA ORAL ORDER Heard Sri Unnikrishnan M., learned counsel for the petitioner and Smt. B. Pushpalatha, learned Additional State Public Prosecutor appearing for respondent No.1. 2. Learned counsel appearing for the petitioner submits that in all identical cases coordinate benches have allowed the petitions and remitted the matter back to the office of the learned Magistrate to permit the petitioner to file his objections with liberty to appear and then consider applications filed under Sections 497 and 503 of the BNSS, 2023. 3. I deem it appropriate to quote the orders so passed in Crl.P.No.1787/2023 dated 14.12.2023: "ORDER The Petitioner which is a Financial Institution is before this Court challenging the order passed by 1st Additional Chief Metropolitan Magistrate on an application filed under Sections 451 and 457 of Cr.P.C. by the complainant/respondent No.2 directing the petitioner-Bank to defreeze the amount belonging to the accused and transfer the - 4 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 said amount to the bank account of the complainants/respondent No.2. 2. The petitioner’s concern is that the order passed by the Jurisdictional Magistrate cannot be executed because it surpasses the specified release amount, and numerous courts across the Country have issued directives to the investigating agencies to unfreeze the bank accounts of the accused therein. 3. Learned Special Public Prosecutor on instructions would suggest that the matter may be remanded to the Jurisdictional Courts to consider the application filed under Sections 451 and 457 of Cr.P.C. afresh, by affording an opportunity of hearing to the petitioner. 4. Admittedly, multiple cases are registered against the accused herein within the State and across the country and there are multiple orders passed by the Jurisdictional Magistrates directing the petitioner to unfreeze the account of the accused and transfer the amount to the bank account of the complainants. The passing of multiple orders has caused difficulty to the petitioner/bank in executing the said order, since the amount ordered to be released in some accounts exceeds the amount available in the subject accounts of the accused. Therefore, the learned Magistrate before passing an order directing the petitioner to unfreeze and transfer the amount to the accounts of the complainants, is required to hear the petitioner. Accordingly, I pass the following: ORDER i. Criminal Petition is allowed. ii. The order dated 26.11.2021 passed by the 1st Additional Chief Metropolitan Magistrate, Bengaluru in Cr.No.452/2021 is hereby set aside. - 5 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 iii. Matter is remanded to 1st Additional Chief Metropolitan Magistrate, Bengaluru to reconsider the application filed under Sections 451 and 457 of Cr.P.C. afresh, after giving the opportunity of hearing to the petitioner. iv. Till the application is disposed of, the petitioner/bank is restrained from releasing the money in favour of any person from the subject account." In Crl.P.No.13487/2023 c/w. Crl.P.Nos. 10201/2023, 12091/2023, 13483/2023, 13489/2023, 13611/2023, 13627/2023, 13940/2023, 13955/2023, 98/2024, 128/2024, 356/2024, 357/2024 dated 12.02.2024: "7. Having heard the arguments of both side, perused the records. The Trial Courts have passed the impugned orders in these cases for de-freezing the accounts of the customers and releasing the amounts, without giving opportunity of hearing to the petitioner - Bank. If the orders of the Magistrate are not complied with, it amounts to violation of court order and they face contempt. Therefore, before de-freezing the accounts, it is necessary for the Trial Court to give opportunity to the petitioner of being heard in the matter and then pass appropriate orders since some of the customers do not have any amounts in their accounts and some of the customers are having lesser amount or zero balance. Hence, it is necessary for this Court to set aside the impugned orders with liberty to the petitioner to approach the various courts and after hearing the petitioner - Bank, the Courts can pass appropriate orders. 8. Accordingly, I pass the following: ORDER (i) These Criminal Petitions are allowed. - 6 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 (ii) The impugned orders passed by the Trial Court given in the tabular form below are hereby set aside: Sl. No. Crl. P. No. Impugned order dated Addl. Chief Metropolitan Magistrate CR. No. 1 13487/2023 17/02/2023 I A.C.M.M. 1213/2022 2 10201/2023 07/07/2023 C.J.M., BANGALORE RURAL DIST. Crl. Misc. No.177/2022 3 12091/2023 05/01/2023 II Addl. Sr. Civil Judge and JMFC Chikkaballapura CR. No. 45/2022 4 13483/2023 13/10/2023 I A.C.M.M. CR. No. 200/2023 5 13489/2023 11/08/2023 I A.C.M.M. CR. No. 124/2023 6 13611/2023 30/09/2023 I A.C.M.M. CR. No. 196/2023 7 13627/2023 12/04/2023 I A.C.M.M. CR. No. 02/2023 8 13940/2023 18/07/2023 I A.C.M.M. CR. No. 1060/2022 9 13955/2023 15/08/2023 I A.C.M.M. CR. No. 05/2023 10 98/2024 08/08/2023 I A.C.M.M. CR. No. 1051/2023 11 128/2024 24/07/2023 I A.C.M.M. CR. No. 969/2022 12 356/2024 31/07/2023 C.J.M., BANGALORE RURAL DISTRICT CR. No. 197/2023 13 357/2024 07/06/2023 I A.C.M.M. CR. No. 136/2023 (iii) The Trial Court is directed to hear the petitioner and the respondents and dispose of the matters in accordance with law, afresh. (iv) Till disposal of the cases by the Trial Court, the petitioner-Bank is restrained from releasing the amounts of de-freezed accounts of customers or complying the order of the Magistrate." In the light of the orders passed by the coordinate benches as quoted hereinabove, as also same was being held in - 7 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 other cases, I deem it appropriate to dispose of this petition by passing the following: ORDER a. Criminal Petition is allowed. b. The order dated 20.12.2025 passed by the 47th Additional Chief Judicial Magistrate, Bengaluru, in Cr.No.691/2025 is hereby set aside. c. Matter is remanded to the 47th Additional Chief Judicial Magistrate, Bengaluru to reconsider the application filed under Sections 497 and 503 of the BNSS, 2023 afresh, after affording opportunity of hearing to the petitioner. d. Till the application is disposed of, the petitioner/bank is restrained from releasing the money in favour of any person from the subject account. - 8 - HC-KAR NC: 2026:KHC:17915 CRL.P No. 4289 of 2026 e. In the light of the issue pending for such consideration, I deem it appropriate to direct the concerned Court to dispose the application so filed under Sections 497 and 503 of the BNSS as expeditiously as possible, at any rate, within eight weeks from the date of receipt of copy of this order. Ordered accordingly. I.A.No.1/2026 is disposed, as a consequence. Sd/- (M.NAGAPRASANNA) JUDGE NVJ List No.: 2 Sl No.: 90