N.V.RAMANA, PRAFULLA C.PANT
STATE REPRESENTED BY THE PRINCIPAL SECRETARY TO GOVERNMENT, HOME (POLICE XIX) DEPARTMENT – Appellant
Versus
K. S. PALANICHAMY – Respondent
JUDGMENT
N.V. RAMANA, J.
1. Leave granted.
2. Appellant is before us questioning the order passed by the High Court in Crl.O.P. (MD) No. 6607 of 2013, dated 19.03.2014, whereby the High Court has set aside an ad-interim order (G.O. Ms. No. 989) [hereinafter referred to as 'G.O' for brevity], dated 24.12.2012, attaching the immovable properties of the partners of Financial Establishment (Global Capital Trading Services) i.e. respondents herein under Section 3 of the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997 [hereinafter 'Act' for brevity]?’
3. Brief facts of the case which are necessary for adjudication of dispute before us are, on 01.11.2010, a complaint was registered with Deputy Superintendent of Police against the respondents herein alleging that, respondents were conjointly running a Financial Establishment in the name of Global Capital Trading Services at Madurai, offering high rate of returns on investments in their Financial Establishment. Basing on the assurance given by the respondents herein, the complainant along with his relatives deposited huge sums of money with the Financial Establishment, administered by the respondents
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