Amount of money on hold in my bank accounts by cyber cell

Dear Client,

If the Pune Cyber Cell has put a hold on your bank accounts, here's a step-by-step guide on how to address this issue

The Cyber Cell has placed a hold on your bank accounts due to a flagged transaction related to cryptocurrency (Binance P2P). The bank and law enforcement are investigating potential fraudulent activity or money laundering.

Reach out to the Pune Cyber Cell (Shivajinagar) immediately. You can visit in person or call them. Explain that you were unaware of any fraudulent activity and that you only conducted legitimate transactions via Binance P2P.
Ask the police department for more details regarding the specific reason for the hold. Is it related to the source of the funds or any complaint against the sender or transaction?

Gather all your Binance P2P transaction records, including proof of the sale of USDT, the bank transfer details, and the transaction IDs you mentioned.

Collect bank statements from Kotak Mahindra Bank and State Bank of India showing the incoming and outgoing transactions to demonstrate that these transactions were legitimate.

If you had any communication with the buyer or seller through Binance, keep records of that communication to show transparency.

Draft a formal representation explaining that the funds in your accounts are legitimate and were received from a lawful cryptocurrency sale.
Attach supporting documents such as:
Your Binance account details
Transaction records (including screenshots of P2P transactions)
Bank statements showing these transactions
Identity documents to prove your credentials and legitimacy

Ask Kotak Mahindra Bank and State Bank of India for official reasons why your funds are on hold and see if they can provide any clarification or assistance in dealing with the cyber cell.
File a formal complaint with the bank if they have put the hold without proper reason or clarification.

Regards

Dear client,

When an account has been kept on hold or any action is taken by the bank, it is due to some suspicion of illegal transaction. You can ask the reason from the bank for such hold or account freeze. If you feel that you are innocent you need to inform the department about the same by sending a legal notice.

Contact an advocate immediately and counter your case immediately before an order is passed.

Dear sir,
if FIR not discloses your name then you can approach the court under the following provision of law and get defreeze order

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Dear Sir/Madam,
Under the following provisions the Hon’ble Magistrate Court having ample powers to unfreeze the Bank accounts. Further, the Hon’ble Court has vast powers to hand over the properties/vehicles seized by the Police and other authorities to the owners of the properties/vehicles. Such interim orders normally will be made within Thirty days of such interim application and on such orders the Police and other authorities are bound to hand over the properties/vehicles to the persons in whose favour such orders are passed.
Section 451 in The Code Of Criminal Procedure, 1973
451. Order for custody and disposal of property pending trial in certain cases. When any property is produced before any Criminal Court during any inquiry or trial, the Court may make such order as it thinks fit for the proper custody of such property pending the conclusion of the inquiry or trial, and, if the property is subject to speedy and natural decay, or if it is otherwise expedient so to do, the Court may, after recording such evidence as it thinks necessary, order it to be sold or otherwise disposed of. Explanation.- For the purposes of this section," property" includes-
(a) property of any kind or document which is produced before the Court or which is in its custody,
(b) any property regarding which an offence appears to have been committed or which appears to have been used for the commission of any offence.

457. Procedure by police upon seizure of property.
(1) Whenever the seizure of property by any police officer is reported to a Magistrate under the provisions of this Code, and such property is not produced before a Criminal Court during an inquiry or trial, the Magistrate may make such order as he thinks fit respecting the disposal of such property or the delivery of such property to the person entitled to the possession thereof, or if such person cannot be ascertained, respecting the custody and production of such property.
(2) If the person so entitled is known, the Magistrate may order the property to be delivered to him on such conditions (if any) as the Magistrate thinks fit and if such person is unknown, the Magistrate may detain it and shall, in such case, issue a proclamation specifying the articles of which such property consists, and requiring any person who may have a claim thereto, to appear before him and establish his claim within six months from the date of such proclamation.



Keeping seized vehicle in open air may harm it; petition for custody of vehicle under Section 457 CrPC allowed
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Madhya Pradesh High Court: A Single Judge Bench comprising of Anjuli Palo, J., addressed matter where petitioner was aggrieved by an impugned order passed by Ist Additional Sessions Judge Itarsi in a criminal revision whereby the application under Section 457 CrPC, 1973 was dismissed.
The petitioner’s vehicle was seized by the police for crime under Sections 4, 6 and 9 of the M.P. GauvansVadhPratishedhAdhiniyam, 2004 and Section 11 of PashuKoortaAdhiniyam, 1960. This petition was filed under Section 482 of Code praying the release of petitioner’s vehicle by virtue of Section 457 of the Code on grounds that impugned orders seizing petitioner’s vehicle were illegal and arbitrary and the vehicle had been kept in open space which could damage the vehicle. Court relied on the case of Sunderbhai Ambalal Desai v. State of Gujarat, (2002) 10 SCC 290 where it was held that seized vehicle should be released as keeping it in open could cause harm to the vehicle. Therefore, Court set aside the impugned order as a result of which the vehicle’s interim custody was given to petitioner on furnishing of a personal bond.

Dear Client,
In the course of an investigation of a cybercrime scam, when an amount is traced out by the investigating agency and put on hold, the victim can move a petition under Sec.457 of Cr. PC(now Sec,503 of BNSS) before the court of Magistrate praying for the release of the said on-hold amount. Section 457 of the CrPC (now Sec,503 of BNSS) empowers a Magistrate to use their discretion to order for the conditional release of the amount frozen or put on hold under cyber scam. In this situation, the police seek a bond from the victim who needs to declare that he/she will pay 1. 5 times the refunded amount to the bank in case his/her claim is false or if other claims are made on the amount. Once this is done, the Magistrate executes an order to release the on-hold amount to the applicant victim and following the court's order, and on receipt of the bond, the Investigating Officer of the Cyber Cell pursues the matter with the concerned banks and the amount is refunded to the account of the victim. If required, you may take the service of an Advocate for guidance and steps. You may also consult with a cyber crime expert for further guidance and suitable steps.