JYOTHI PRASAD Vs. COMPETENT AUTHORITY

JUDGEMENT

(1.) These appeals are filed challenging the order dtd. 27/2/2025, passed by the XCI Additional City Civil And Sessions Judge, Bengaluru in Misc.No.1190/2024.

(2.) Heard the learned Senior Counsel appearing for the appellants, as well as the learned counsel appearing for the respondents competent authority.

(3.) It is submitted by the learned Senior Counsel for the appellants that the properties were purchased by the appellants prior to the Notification being issued under Sec. 3(2) of the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (hereinafter referred to as 'KPIDFE Act'). It is submitted that the revenue records also stood mutated in the names of the respective purchasers. It is contended that without any Notice being issued to the purchasers, who are not persons directly connected with the Financial Establishment, their properties were subjected to attachment. It is further submitted that without any Notice being issued to them under Sec. 13 of the KPIDFE Act, action has been initiated to make the attachment absolute under Sec. 5(2) of the KPIDFE Act. The learned Special Court without accepting the contentions raised, has also passed orders making the attachment absolute.