2023 (2) TMI 1147

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..... USHA D.N, ADVOCTE IN I.A No.1/2023 ORDER The party in person has filed the present PIL with the following prayers: "1. Direct the respondent No.3 to protect the attached assets from the orders of Consumer - Court / other similar courts for equitable distribution among depositors of money realized from the assets. 2. Issue direction to the Special Court for making the order of properties - attachment absolute. 3. Direct the respondent No.3 to open bank account and credit the remaining freezed account money, mutual fund money and all monies realized. 4. Direct the respondent No.3 to sell the attached assets by public auction at optimum price. 5. Direct the respondent No.3 to invite all the ....

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.... Competent Authority appointed under the Karnataka Protection of Interest of Depositors in the Financial Establishments Act, 2004 (for short, 'KPID Act'). The Court also directed respondent No.2 - Director General of Police, CID Special Unit of Economic Offences to submit a report on the investigation so far carried out. Subsequently, various orders have been passed by this Court from time to time. On 20.02.2023, the learned Additional Government Advocate has filed the status report in Writ Appeal No.1343/2021 indicating various steps taken by the Competent Authority as well as the State. Though the status report was filed in Writ Appeal No.1343/2021, the same provides details of necessary response to the prayers which are made in this PIL.....

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....perties worth Rs.9,46,74,030/- were seized which includes bank balance, mutual fund investment, car, etc. After conclusion of the investigation in 60 cases, project-wise 27 charge sheets were filed before the Competent Court - CCH No.1. The details of the chart sheets filed before the Court along with their respective case numbers are placed on record. The perusal of the status report reveals that the offences attracted the provisions of the Indian Penal Code as well as the KPID Act. It is also stated in the report that the Government had appointed the Assistant Commissioner, Bengaluru South as Competent Authority vide notification dated 05.01.2018 for disposal of the properties under the provisions of KPID Act, 2004. Now, the Competent Aut....