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IN THE HIGH COURT OF KARNATAKA AT BENGALURU
ANU SIVARAMAN, K.MANMADHA RAO
Kanva Educational Trust Represented By Its Secretary Mr. Rajath P. Gowda – Appellant
Versus
Competent Authority For Sri. Kanva Souhardha Credit Co-Operative Limited – Respondent
| Table of Content |
|---|
| 1. final order of attachment under kpidfe act. (Para 1 , 4 , 5) |
| 2. violation of natural justice by not impleading the appellant. (Para 6 , 7 , 8) |
| 3. public notice suffices for attachment proceedings. (Para 9 , 10 , 11 , 12) |
| 4. contention of lack of notice rejected due to substitutive notice provisions. (Para 13 , 16 , 17) |
| 5. attachment serves to protect depositors' interests. (Para 18 , 19) |
| 6. appeal dismissed based on substantive legal grounds. (Para 20) |
JUDGMENT :
ANU SIVARAMAN, J.
This Miscellaneous First Appeal is filed against the final order dated 09.01.2024, passed by the XCI Additional City Civil and Sessions Judge, Bengaluru ('Special Court' for short) in Misc.No.1204/2023. By the said impugned order, the Special Court made the ad-interim order of attachment of properties, including the property on which the appellant's school is situated, absolute.
2. We have heard Shri. D.R. Ravishankar, learned senior counsel as instructed by Shri. Siddarth U.B, learned advocate appearing for the appellant, Shri. Veeresh R. Budihal, learned counsel appearing for respondent No.1 and Shri. Shreeram T. Nayak, learned counsel appearing for respondent No.3.
3. It is submitted that the
An affected party is not entitled to relief if they are aware of legal proceedings and fail to participate, demonstrating that public notice can suffice in certain cases.
The court affirmed the legality of property attachment under the KPIDFE Act, emphasizing that failure to object to preliminary orders negates claims of procedural injustice.
The court upheld the attachment of properties under the KPIDFE Act, emphasizing the necessity to protect depositors' interests despite the appellants' claims of procedural impropriety and lack of com....
Properties purchased with depositor funds are subject to attachment under the Tamil Nadu Protection of Interests of Depositors Act, regardless of subsequent transfers.
The SARFAESI Act, 2002 has overriding effect over state laws, ensuring secured creditors' rights are prioritized in debt recovery.
The MPIDFE Act allows for the attachment of property to protect the interests of depositors, regardless of when the property was acquired. The affidavit filed by the competent authority complied with....
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