SONAL HEMANT JOSHI Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard the learned counsel for the appearing parties. This appeal has been filed against the impugned judgment dated 5-9-2005 passed by the High Court of Judicature of Bombay in Uday Mohanlal Acharya v. State of Maharashtra (W.P. (Cri). No. 903 of 2000, decided on 5-9-2005 (Bom)) by which the Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act, 1999 (for short "the Act") was held unconstitutional.

(2.) In view of the judgment of this Court in K.K. Baskaran v. State, 2011 3 SCC 793 we are of the opinion that the impugned judgment of the High Court is not correct and it is hereby set aside. Hence, we uphold the Act as constitutionally valid.

(3.) We are not going into other questions because in this appeal we are only concerned with the question of constitutional validity of the Act. Application for permission to intervene filed by Bochasanwasi Shri Aksharpurushottam Swaminarayan Sanstha is allowed.