The Madras Excessive Courtroom on Friday known as for an evidence from an Inspector of Police for having frozen Shriram Life Insurance coverage Firm’s checking account with a steadiness of ₹6.5 crore simply because a person had lodged a criticism accusing the corporate of getting cheated him to the tune of ₹30,000. The courtroom additionally directed the Excessive Courtroom Registry to take the problem to the discover of the Larger Chennai Commissioner of Police.

Justice M. Nirmal Kumar wished the Registry to ahead a replica of his interim order to the Commissioner of Police “for info and to provide needed directions and instructions to his personnel conducting investigation in such circumstances and see to it that there isn’t any colourable train of energy”. The decide additionally ordered speedy defreezing of the corporate’s checking account with a rider to take care of a minimal steadiness of ₹1 lakh.

In accordance with the complainant, an agent of the insurance coverage firm had promised to get him a mortgage if he paid ₹30,000 in direction of an insurance coverage coverage. He alleged that the mortgage was not sanctioned regardless of taking the insurance coverage coverage and that the corporate demanded more cash. He additionally lodged a criticism on this regard with the Central Crime Department and the matter was taken up for investigation by the financial institution fraud investigation wing.

Advocate Chevanan Mohan, representing HDFC Financial institution, mentioned the financial institution obtained a request from an Inspector of Police on Might 25 to freeze the checking account and therefore it was frozen on Might 27. Aggrieved over such motion, the insurance coverage firm had approached the courtroom now looking for a path to defreeze the account. On coming to know in regards to the info of the case, the decide expressed shock over the motion initiated by the police.

The act of the Inspector “appears to be high-handed and with out authority of regulation,” the decide wrote in his interim order and said that the complete enterprise of the insurance coverage firm had been crippled. “The above act is condemnable and to not be repeated in future,” he mentioned and directed the Inspector to elucidate by June 25 the circumstances below which he had written a letter to the financial institution to freeze the account of the insurance coverage firm.