FIR for cyber crime filed and Cyber dept has kept one transaction on HOLD. How do i file Return of Property in such a case?
Dear Client,
When a cyber fraud is reported, the police or cyber crime cell may freeze the suspected transaction in the fraudster’s account. This means the money is kept on hold so that it cannot be withdrawn or misused.
To get the amount released, you can apply under Section 503 of the BNSS (earlier Section 457 of the CrPC). A Magistrate has the power to order the conditional release of such frozen money.
In practice, the police usually require the victim to execute an indemnity bond. This bond confirms that you agree to repay 1.5 times the refunded amount if your claim later turns out to be false or if another valid claim arises. The bond must:
- Be executed on appropriate non-judicial stamp paper
- Be signed by two witnesses and two sureties
- Be supported by an affidavit, attested before a First-Class Magistrate or Notary Public
Once these formalities are complete, the Magistrate can pass an order directing the release of the frozen amount. The Investigating Officer of the Cyber Cell will then coordinate with the bank to refund the money to your account.
To move forward, you should file a petition before the jurisdictional Magistrate under Section 503 BNSS for release of the frozen funds. It is advisable to engage a lawyer to ensure the petition and indemnity bond are properly prepared and submitted.