Help for unblocking my current account
In this case, I used letter:
"Z" for Arunachal Pradesh state, Itanagar police station where F.I.R is registered. "Y" for my customer who has done fraud - Karnatka, Tumakuru. "X" for my firm state - Uttar Pradesh, ghaziabad.
Business Background : I am running website for online payout/money transfer service, where customer can signup after KYC verification and bank account validation. I accept funds from my customer via third party payment collection service through virtual bank account number (which is unique for every customer registered on my website). My customer can send funds to that virtual account number only from his linked bank account which is verified (account holder name is matched with kyc). When my customer send funds to virtual account, third party sends confirmation data to my website database and then my automated script credit that fund in my customer wallet on my website. Once fund gets credited in customer wallet then customer can upload excel file of beneficiaries list for bulk transfer of money to their customers/agents/vendors. I take fee on every transaction as server fee from my customer. Transaction is processed by private bank (ABC) through "Money Transfer API" or "Payout API" and they are authorized by RBI. I am also authorized to use their money transfer api service as per agreement done with my banking partner - ABC.
Legal Issue : One of my customer misused our money transfer service by sending "fraud" money (6 crore) to virtual bank account from his own firm bank account and then he sends all that "fraud" money (6 crore) to his beneficiaries and F.I.R registered against his firm u/s 420 and police Investigation Officer send directions to my "Private Bank ABC" to take necessary action.
My Issue : Now my "Private Bank ABC" after receiving instructions from IO blocked my current account without any giving notice. All of my other customers money (18 lakh) stuck and my business reputation ruined because of account blocked and bank replied saying that you need NOC from police than we will unfreeze your bank account. I talked to IO of state "Z" and he asked me to send beneficiary list to whom fraud money is distributed. I gave all the beneficiary list with account number, ifsc, amount, imps transaction ID, date/time, etc in excel file with total amount 6 crore. I requested to IO to unfreeze my account as all fraud money (6 crore) is already withdrawn by my customer to his beneficiary accounts, but he denied. My firm registered in "X" state and my customer firm registered in "Y" state and F.I.R is registered in "Z" state from where "fraud" money came initially. Fraud money trail is from state "Z" to state "Y" (my customer state) and then to my state "X".
In this case, my first priority is for unblocking my current account. What should I do?
Note : Balance in my freeze current account is very less (18 lakh) compared to misused/fraud money (6 crore) so lien on current account will not work.
Asked 9 days ago in Criminal Law