[ High Courts ]
Bank Cannot Freeze Account on Its Own Suspicion: Allahabad HC Orders De-Freezing, Imposes ₹50,000 Cost on Indian Overseas Bank
The Allahabad High Court's Lucknow Bench held that a bank has no authority to freeze a customer's account on self-declared suspicion, directing de-freezing and imposing costs on Indian Overseas Bank for acting without any complaint, FIR, or order from a competent authority.