V. K. SUBRAMANIAM Vs. INSPECTOR OF POLICE

JUDGEMENT

(1.) The fair and decretal order dated 21.07.2017 passed by the learned Special Judge, Special Court under TNPID Act Cases, Coimbatore in O.S.No.31 of 2013, is under challenge in the present Civil Miscellaneous Appeal.

(2.) Learned counsel for the appellants made a submission that the first appellant is the innocent purchaser of the property and he is no way connected with the finance company nor accused in the criminal case. Therefore, purchase of property by the first appellant is to be protected. When the first appellant is the bona fide innocent purchaser, the sale cannot be interfered with as he is unconnected with the affairs of the Financial Company.

(3.) Learned counsel for the appellants reiterated that the Special Court has committed an error in granting permission for attachment without considering the fact that the first appellant is a third party purchaser and the property was purchased without knowing the fact about the criminal case and the collection of deposit amount from the depositors.