🚹 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 â‚č175 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 đŸ’Ș

#P2P #BinanceIndia #CryptoIndia #LegalAwareness #MerchantSupport