In a significant ruling, the Delhi High Court has instructed Axis Bank to treat a writ petition as a formal representation regarding the operation of a petitioner’s bank account. The court mandated the bank to conduct a hearing with the petitioner and to issue a reasoned decision within 15 days, ensuring a fair review process and prompt resolution of the account-related issues raised.

Advocate Ayush Jindal, representing the petitioner, presented the case arguing that the petitioner wishes to operate their account while adhering to the restrictions set by the Enforcement Directorate (ED) in the Provisional Attachment Order dated March 26, 2024. The petitioner seeks to clarify that only the amount specified in the order should remain frozen, allowing for the continued operation of the rest of the account.

Justice Dharmesh Sharma emphasized the need for careful examination of Axis Bank’s actions, directing the institution to thoroughly review the situation and provide a reasoned order by September 12, 2024. The plea not only addresses the bank’s operations but also seeks clarity on the enforcement measures imposed by the Directorate of Enforcement.

This ruling highlights the judiciary’s role in safeguarding consumer rights and ensuring accountability within financial institutions. It reinforces Belegal’s commitment to advocating for fair practices in the legal and banking sectors, demonstrating the importance of transparency and due process in financial dealings.