🚨 Important Info for P2P Merchants Facing Account Freezes in India 🇮🇳
I wanted to share a recent personal experience that may help others who are dealing with frozen bank accounts due to cyber complaints or Layer 4 credits.
🔍 Court Ruling Highlights (Madras High Court – W.P. No. 25631 of 2024): • Only the disputed amount can be legally frozen, not your entire bank account. • Freezing the entire account is illegal. • In my case, the court ordered ICICI Bank to hold just ₹175 and unfreeze the rest after 8 months of fighting!
❗Then my Federal Bank account got frozen for another small Layer 4 credit. Again, no notice, no explanation — full debit freeze.
📌 Steps I Took: 1. Asked the bank under which section the police sent the notice: • Section 91 CrPC: Police can only ask for details, NOT freeze your account. • Section 102 CrPC: Police can freeze, but must inform a magistrate within 2 months.
👉 In my case, police never informed the magistrate, so the freeze was technically illegal.
✅ Takeaway for Merchants: If your account is frozen: • Ask the bank under which section the freeze was issued. • If it’s under Section 91 – it’s not valid for freezing. • If it’s under Section 102 – ask for proof that a magistrate was informed. • Consider filing a writ petition based on the Madras HC precedent.
Let’s help each other stay aware and empowered 💪 #P2P #BinanceIndia #CryptoIndia #LegalAwareness #MerchantSupport
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.
