P. G. AJITHKUMAR
HIGHRICH ONLINE SHOPPE PRIVATE LIMITED – Appellant
Versus
COMPETENT AUTHORITY UNDER THE BANNING OF UNREGULATED DEPOSIT SCHEMES ACT, 2019 – Respondent
JUDGMENT :
P.G. AJITHKUMAR, J.
1. This is an appeal filed under Section 19 of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019. The appellants challenge Annexure A9 order of the Special Court, Thrissur. As per the impugned order, a petition filed by the respondent-Competent Authority seeking to confirm the provisional order of attachment and permission to sell the attached properties of the 1st appellant-company was allowed. The petitions filed by the appellants seeking to release the properties from attachment and allow them to reopen the supermarket in question were dismissed. The appellants challenge the said common orders both on legal and factual grounds.
2. Heard the learned counsel for the appellants and the learned Special Government Pleader.
3. The 1st appellant is a private limited company and appellants No. 2 and 3 are its Managing Director and Director respectively. The 1st appellant was conducting a supermarket and online business under the name and style Highrich Online Shoppe Pvt.Ltd. It was conducting a deposit scheme also under the guise of trading of grocery products, personal care, etc. Following the allegation that the said scheme was violative of the pro
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