Surendranath Reddy v. Reserve Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 04-06-2026

CORAM

THE HON'BLE MR JUSTICE G.K. ILANTHIRAIYAN Surendranath Reddy, Director of Reddx Technologies Private Limited, Block 2, E9, Kochar Panchsheel Apartment, Ambattur Industrial Estate, Chennai - 600 098.

..Petitioner(s) Vs

1. Reserve Bank Of India, Rep, by its Governor, Head Office at - 16th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai - 400 001.

2. HDFC Bank, Rep by its Manager, New No-104, Old No.284, Paper Mills Road, Next to Singappore Plaza, Perambur, Tamil Nadu - 600 011.

3. HDFC Bank, Rep, by its Manager, First Floor, No.129 Mth Road, Ambattur Industrial Estate, Chennai, Tamil Nadu - 600 090.

4. The Superintendent of Police, Cyber Crime Division-I, Cyber Crime Wing, No.3, Dr.Natesan Road, Police Training College Campus, 3rd Floor, Cyber Crime Wing, Ashok Nagar, Chennai - 600 083.

..Respondent(s)

PRAYER:

This writ petition has been filed seeking for issuance of a Mandamus, directing the 2nd and 3rd respondents to dispose of the petitioner's representation dated 22.09.2025 and release the entire amount of Rs.16,005/-, Rs.4,92,872/- and Rs.1,12,557/- in the Savings Account bearing Account No.08801000016889 and IFSC code:HDFC0000880, Current Account bearing Account No.50200083280939 and IFSC code: HDFC0006712, Current Account bearing Account No.50200087142801 and IFSC Code: HDFC0006712 held by the 2nd and 3rd respondents and direct the 4th respondent to disclose the status of any investigation or related matters.

For Petitioner(s):

Mr.K.Kably Taiyab Khan For Respondent(s):

Mr.C.Mohan and Ms.A.Rexy Josephine Mary for M/s.King and Partridge for R2 and R3 Mr.R.Vinothraja, GA(Crl.Side) for R4

ORDER

This writ petition has been filed for a direction, directing the second and third respondents to dispose of the representation of the petitioner dated 22.09.2025, seeking to defreeze the savings account bearing No.08801000016889, current account bearing No.50200083280939 and current account bearing No.50200087142801 held by the 2nd and 3rd respondents. 2.The petitioner is doing Virtual Digital Assets (VDAs) peer-to-peer(P2P) trading and carrying out in his name. He is having current accounts bearing Nos.50200083280939 and 50200087142801 respectively with the 2nd and 3rd respondents.

3.While being so, at the request made by the 4th respondent, the second and third respondents have closed the current accounts of the petitioner. 4.On instructions, the learned counsel appearing for the second and the third respondents submits that so far, they received 20 complaints in respect of the petitioner's current account no. 50200087142801 and 11 complaints in respect of the current account no. 50200083280939 and also received complaints from the Kallakurichi District Crime Branch in respect of the savings account no. 08801000016889. That apart, even till now, they are receiving civil complaints from several crime divisions. Therefore, while pending investigation, the prayer sought for in this writ petition seeking to defreeze the current accounts of the petitioner, cannot be sustained.

5. Therefore, in view of the above submissions made by the learned Counsel for the respondents 3 & 4, this writ petition cannot be entertained as it is devoid of merits and accordingly, the same is dismissed. No costs. 04-06-2026 DN

To 1.The Governor, Reserve Bank Of India, Head Office at - 16th Floor, Central Office Building, Shahid Bhagat Singh Road, Mumbai - 400 001.

2.HDFC Bank, Rep by its Manager, New No-104, Old No.284, Paper Mills Road, Next to Singappore Plaza, Perambur, Tamil Nadu - 600 011.

3.The Manager, HDFC Bank, First Floor, No.129 Mth Road, Ambattur Industrial Estate, Chennai, Tamil Nadu - 600 090.

4. The Superintendent of Police, Cyber Crime Division-I, Cyber Crime Wing, No.3, Dr.Natesan Road, Police Training College Campus, 3rd Floor, Cyber Crime Wing, Ashok Nagar, Chennai - 600 083.

G.K.ILANTHIRAIYAN J.

DN 04-06-2026