Ratna Tripathy v. State Of Odisha (O.P.I.D.)

Mr. U.R. Jena, AGA CORAM: THE HON’BLE MR. JUSTICE ADITYA KUMAR MOHAPATRA ORDER 20.08.2025 Order No.

This matter is taken up through Hybrid mode. Heard learned counsel for the Appellant as well as learned counsel for the State.

The present appeal has been filed under Section 13 of the Odisha Protection of Interests of Depositors Act, 2011 challenging order dated 12.09.2023 under Annexure-2 passed by the learned Presiding Officer, Designated Court under OPID Act, Cuttack in Criminal Misc. Case No.03 of 2023 which arises out of C.T. Case No.06 of 2023 which corresponds to EOW, Bhubaneswar P.S. Case No.20 of 2023 which was registered for alleged punishable of offence punishable under Sections 419, 420, 467, 468, 471, 120-B of IPC read with Section 66 D of Information Technology Act. Page 1 of 3.

The grievance of the Petitioner in the present appeal is that in the pending trial the Petitioner moved an application under Section 457 of Cr.P.C. which was registered as CRLMC No.03 of 2023. In the aforesaid application, the Petitioner had made a specific prayer to release a sum of Rs.1,48,575/- which has been kept frozen by freezing the Bank Account of the accused-Petitioner. The learned Designated Court vide order dated 12.09.2023 dismissed the prayer of the Petitioner. Thereafter, the Petitioner has preferred this appeal under Section 13 of the aforesaid Act.

Learned counsel for the Appellant at the outset contended that the Bank Account of the Appellant which has been freezed belongs to the Appellant and the money which is lying in the Bank also belongs to the Appellant and that he is the absolute owner of such property. He further contended that although a case has been registered against the Appellant, however, the same has not progressed substantially in the meantime. He further contended that the freezing of the Bank Account is affecting the day-to-day business of the Appellant. Learned counsel for the Appellant at this juncture contended that the Appellant is ready and willing to deposit the amount whenever the Court gives such direction. On such ground, learned counsel for the Appellant contended that the appeal be allowed and the Bank Account of the Appellant be directed to be defreezed by the investigating officer.

Learned counsel for the State on the other hand, on instruction from the I.O. of the case, submitted before this Court that during investigation it was found that the Bank Account in question belongs to the present Appellant and that there is a balance of Rs.1,48,575/-. It has also been indicated that pursuant to the instruction of the I.O., Page 2 of 3. the Bank Manager has kept the Account in hold (debit freeze) w.e.f.

27.06.2023. On perusal of the instruction of the I.O., it appears that the I.O. has no objection in the event the money is released in favour of the present Appellant.

On a careful analysis of the aforesaid fact, this Court is of the view that the money which is kept in the account stands recorded in the name of accused. As per the allegation such money has been taken fraudulently and has been transferred from the account of the Petitioner-Informant. However, since a trial is pending, it would not be fair to pass any blank order for release of the money in favour of the present Petitioner. In view of the aforesaid position, this Court, while disposing the present application, permits the release of the money in favour of the Petitioner subject to the Petitioner securing the aforesaid amount before the trial Court and upon furnishing an undertaking that whenever the trial Court directs he shall deposit the money before the trial Court.

With the aforesaid observation/direction, the CRLA stands disposed of. S.K. Rout ( Aditya Kumar Mohapatra ) Judge Page 3 of 3. Signature Not Verified Digitally Signed Signed by: SANTANU KUMAR ROUT Reason: Authentication Location: High Court of Orissa, Cuttack Date: 21-Aug-2025 11:02:06