Madras HC: Freezing entire bank account without quantifying fraud amount violates right to trade

• The Madras High Court ruled that freezing an entire bank account without specifying the fraud amount violates the right to trade and livelihood.

• The court highlighted that citizens often face accounts freezing without proper intimation, causing significant financial disruption.

• In the case of Mohammed Saifulla, whose account was frozen due to suspected cryptocurrency dealings, the court noted that only a portion of the account balance was allegedly involved in the crime.

• The court ordered the bank to de-freeze Saifulla's account while placing a lien on a specific amount related to the alleged fraud.