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Rajesh   05 October 2021

Unsealing bank account

Respected Sir/Madam.

A private investment broker is currently been charged for some money fraud. I do not know if he is guilty or not. I have about 1 lac to be received from him. Currently all his bank accounts are sealed by police but he is not behind bars. What he is saying is that (as per his lawyer) after chargesheet gets filed against him, only after that his accounts will be unfrozen.

I just want to know the validity of his claim. Will frozen accounts be really unsealed after chargesheet gets filed? Could this be  just another way to evade lawful dues?

Best regards.


 5 Replies

Dr J C Vashista (Advocate)     06 October 2021

Nothing can be assumed and advised.

G.L.N. Prasad (Retired employee.)     06 October 2021

There is no such possibility of getting the amount from a frozen account.  The presumption is that the Bank branch balance is not alone the source of income of that broker, and there are ways and means, he can repay a small amount of Rs.1 lakh through the disposal of his assets if there is really a will.  You are not sure as to whether that amount of froze is less or more than his liabilities.

If the broker is honest and really sincere, he can settle your amount through alternates.

1 Like

Rajesh   07 October 2021

@Dr J C Vashista

May be you did not get the question. Is there any legal procedure that the frozen account gets unsealed after chargesheet is filed? I guess it will be unfrozen if the person is proven innocent in the trial??

Ignore all story therein. It's not required at all in the question.

Dr J C Vashista (Advocate)     08 October 2021

@ Rajesh ji,

The police has got warrants to seal the account of accused which can be desealed only after permission from the Trial Court, when the subject account is no more required in the prosecution.

Thanks and Regards

1 Like

Rajesh   08 October 2021

Sir, I get the point now. Thank you for the clear explanation. Thanks again.

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