JUDGMENT :

GAURI GODSE, J.

1. This appeal is preferred by the owners of the property, as their property is attached pursuant to the orders passed by the learned Special Judge, designated under The Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 (‘MPID’ Act), making the show cause notice of attachment absolute by exercising powers under Section 8 of the MPID Act.

Brief Facts:

2. The appellants are the owners of the property in question, i.e. Shop Nos. 1 and 2 in the building known as Prem Bhanu Apartment, IC Colony, Borivali (West) (‘said shops’). FIR came to be registered on 15th February 2000 against M/s Technology Connection and M/s. Techcons Shelterettes Ltd. The allegation was that one Mr Joseph Dennis Vaz, his wife and his son were running the said alleged financial establishments. The case of the prosecution is that there was a scheme of recruiting candidates to the Gulf countries, but later on, the accused set up a scheme for giving homes to the aged and homeless senior citizens. The appellants are not arraigned as accused in the case. During the investigation, the police sealed the said shops and took possession of them as per directions