JUDGMENT : ANIL KUMAR CHOUDHARY, J. 1. Heard the parties. 2. This criminal miscellaneous petition has been filed invoking the jurisdiction of this Court under Section 482 Cr.P.C. with a prayer for quashing the order dated 12.04.2022 passed by the learned Additional Chief Judicial Magistrate, Ranchi in Misc. Criminal Application No. 474 of 2022 arising out of Sadar P.S. Case No. 578 of 2019, corresponding to G.R. No. 861 of 2020 by which the order for release of the cash amount of Rs.2,57,87,680/- to transfer the same in the account of SIS Cash Services Private Limited is disposed of as rejected. 3. Learned counsel for the petitioner drawing attention of this Court to the order passed by a coordinate Bench of this Court in Cr.M.P. No. 892 of 2021 dated 10.01.2022, a copy of which kept at Annexure-13 at page no. 151-153 of the brief submits that an amount of Rs.4,07,53,000/- was looted while transaction of the said cash was being done by the SIS Cash Services Private Limited and for that FIR was lodged and in the first instance, a sum of Rs.2,57,87,680/- was seized by police which has been kept in the safe custody of State Bank of India, Kutchery Branch, Ranchi. Drawing attention of this Court to paragraph nos.5 and 6 of the said order passed in Cr.M.P. No. 892 of 2021, it is submitted by the learned counsel for the petitioner that the State Bank of India and Union Bank of India both have intimated this Court that SIS Cash Services Private Limited has indemnified the said two banks. It is further submitted by the learned counsel for the petitioner that there is absolutely no dispute that the said money was seized from the custody of SIS Cash Services Private Limited and the petitioner is the authorized representative of SIS Cash Services Private Limited and a copy of the resolution of the board of director has been filed indicating that the petitioner is the authorized person to sign and submit all necessary documents on behalf of the company in the said case. Drawing attention of this Court to Annexure-A of the supplementary affidavit dated 14.07.2023, it is submitted by the learned counsel for the petitioner that the same is the detail particulars of the bank account of the SIS Cash Services Private Limited but the learned Additional Chief Judicial Magistrate, Ranchi on some flimsy reasons without application of mind, has rejected the prayer of the petitioner for release of the said amount. Drawing attention of this Court to Annexure-A of the supplementary affidavit dated 08.09.2022 filed on behalf of the petitioner, learned counsel for the petitioner submits that the same is the no objection certificate for recovery of the cash by SIS Cash Services Private Limited agreed by EPS (Electronic Payment And Services Pvt. Ltd.) and Annexure-B is the no objection certificate issued by the FIS Payment Solutions And Services Pvt. Ltd. Hence, the said order dated 12.04.2022 passed by the learned Additional Chief Judicial Magistrate, Ranchi in Misc. Criminal Application No. 474 of 2022 arising out of Sadar P.S. Case No. 578 of 2019, corresponding to G.R. No. 861 of 2020 being not sustainable in law be set aside and order be passed directing release of the said amount. 4. Learned Additional Public Prosecutor submits that the State has no objection if the amount is transferred to the bank account of the SIS Cash Services Private Limited, the details of which has been mentioned in Annexure-A of the supplementary affidavit dated 14.07.2023. 5. Having heard the submissions made at the Bar and after going through the materials in the record, it is crystal clear that in view of the order passed by a coordinate Bench of this Court in Cr.M.P. No. 892 of 2021, the learned Additional Chief Judicial Magistrate, Ranchi has committed a grave error by rejecting the petition for release of the amount. Accordingly, the order dated 12.04.2022 passed by the learned Additional Chief Judicial Magistrate, Ranchi in Misc. Criminal Application No. 474 of 2022 arising out of Sadar P.S. Case No. 578 of 2019, corresponding to G.R. No. 861 of 2020 is quashed and set aside. 6. The learned Additional Chief Judicial Magistrate, Ranchi is directed to pass necessary order upon the indemnity bond being furnished by M/s. SIS Cash Services Private Limited that they will produce the amount released in their favour in the court if and when the same is necessary. 7. 6. The learned Additional Chief Judicial Magistrate, Ranchi is directed to pass necessary order upon the indemnity bond being furnished by M/s. SIS Cash Services Private Limited that they will produce the amount released in their favour in the court if and when the same is necessary. 7. Upon such indemnity bond being filed by M/s. SIS Cash Services Private Limited, the learned Additional Chief Judicial Magistrate, Ranchi is directed to pass necessary order for transfer of the said seized amount to the bank account of SIS Cash Services Pvt. Limited being Account No. 911020061242455, IFSC Code UTIB0001103 with bank address being Oakhla, Phase-I, Industrial Area, New Delhi-110020. 8. In the result, this criminal miscellaneous petition is allowed.