ORDER :

The petitioner herein is the respondent in C.M.P. No.50/2021 on the file of the Judicial First Class Magistrate Court - V, Kozhikode. The aforesaid C.M.P. was filed by the 1st respondent herein invoking the powers of the court under Chapter VIIA of the Code of Criminal Procedure, wherein the prayer sought was to initiate the proceedings for attachment of the properties of the petitioner herein. The crucial question that arises here is whether the powers of the court under the provisions of the said Chapter can be invoked based on an application submitted by an individual/establishment or is it necessary to submit a request in this regard by the Central Government.

2. The facts leading to the filing of this Crl. M.C. is as follows: The 1st respondent is a banking financial institution in Sharjah, U.A.E. The petitioner herein had availed a credit facility from the said bank for the purpose of his business in U.A.E. to the tune of AED 4,698,243.42. Subsequently, the petitioner defaulted repayment of the loan amount and certain cheques issued by the petitioner towards repayment of the loan were also dishonoured. Accordingly, a criminal prosecution was launched before the U.A.E. c