You need to approach court to unfreeze the same by removing lien
My Credited Amount got in lien
Hi to all respected Lawyers. my problem is that i used to be trader of bitcoins on localbitcoins.com and from there i used to buy and sell bitcoins. one day in 2020 oct i got deal of 3 lacs of buy order that he want to buy bitcoins worth of 3 lacs so i asked him to do rtgs as imps is not possible for 2 lacs. at 10 am deal was done i got money in my bank and i sent him 3 lac worth of bitcoins just in 30 mins my amount was not showing in bank account after reaching out my bank they told me there is some police complaint from tamil nadu hence they put that amount in lien. so my 3 lac worth of bitcoins also gone and my money in inr is also frozen. I was in panic mode as i never faced any police or something like that never done anything wrong by myself never went to court too. after going bank and all i got details that scammer who bought bitcoin used other persons account to buy bitcoins from me but I don't believe any of these however i didnt got any summon or the police even reached me but i written a complaint in my area police station too and from them i reached out tamil nadu police and they asked me some information which i gave them from then i never been reached out by them but my police station even gave in written to bank that unfreeze it but bank manager keep on saying that without court order he will not release any money! why our system is like that can i send money to anyone later i complaint in police and i can harass them?? what law is this Why i am suffering from this from last 3 years no one listen i reached out local lawyers too went to commisnarate they say go local police station blah blah now to get my 3 lac i have to spend more??
Asked 1 year ago in Criminal Law
Religion: Hindu
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8 Answers
File writ petition in HC to direct ban to release your funds
2) rely upon letter from police station sent to bank to unfreeze your account
3) in alternative file complaint against bank and its manager with the ombudsman of bank
The next option before you is to approach high court with a writ petition to direct police to unfreeze your bank account and instruct bank to permit you to withdraw the amount held in line.
Dear client,
I am sorry to hear about your situation. It is understandable that you are frustrated with the legal system and the difficulty you have faced in trying to unfreeze your funds.
In general, banks are required to comply with law enforcement requests to freeze accounts and funds if there is suspected illegal activity, such as fraud or money laundering. This is done to prevent the proceeds of crime from being used or transferred, and to facilitate any investigations.
If you have not been contacted by the police or received any legal notice or summons, it is possible that the investigation is ongoing and you may be contacted in the future. It is important to cooperate with any investigation and provide any information that may be requested.
In terms of recovering your funds, you may want to consider seeking legal advice from a lawyer who is familiar with banking and cryptocurrency laws. They can advise you on the best course of action and whether it is necessary to obtain a court order to unfreeze your funds.
It is important to remember that the legal process can be slow and frustrating, but it is designed to ensure that justice is served. I wish you the best of luck.
you will have to take this matter to the banking ombudsman
you transferred the bitcoins to the purchaser for which you have the proof
you got the money in your account from that purchaser
so the bank had no business to freeze that amount or transfer it to some no lien account
when the bank asks you for a court order to release your money, what Court order does the bank have with it which would justify the bank to freeze your money??
merely telling you that there is some police complaint filed in tamil nadu or that the purchaser used some third party's account to transfer the money to your account, is not enough
the bank had no authority to freeze your money nor did the bank has any court order with it which directs the bank to not release your money
so plz file a complaint with the banking ombudsman
Contact some good lawyer in your locality you will get back your money
1) File the complaint against Bank manager via Banking Ombudsman do attach the the letter which you have received from police station.
2) Resolutions are pretty quick via Banking Ombudsman, hope you get your money back soon.
Why you have delayed such long. Send legal notice to bank and blame them for illegally freezing your account without any statutory body directions. Also without notice to the account holder his account cannot be hold.
And lastly you have to file consumer case agasint bank, and may be civil suit for direction. Also file interim application along with case for immediate release ( de freeze) of amount.
Also claim compensation/interest.
