JUDGMENT :

The appellant has filed the present appeal challenging the decreetal order passed in O.A.No.57 of 2008 on the file of the learned Special Judge under the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act 1997, (for short TNPID Act) Chennai, dated 12.09.2014.

2. The question of law that arises for consideration is as to

“whether the TNPID Court erred in holding that the schedule mentioned properties was purchased by the 5th respondent before the creation of the financial institution, besides not a shareholder of the J.B. Associates and erroneously ordered for attachment of the property?”

3. The facts reveal that the 1st respondent / investigating agency filed O.A.No.57 of 2008 under Section 8 of TNPID Act read with Section 151 CPC, praying to pass an order of attachment of the properties of the appellant as stated in the schedule. The finance company was under the name and style of Hi-yield Investments, registered on 1995, with the partners, respondents 2 to 5 along with the appellant at Kastamedu Street, Kospaet, Vellore Town and the same was dissolved on 28.05.2003 with an intention to cheat the depositors. After collecting money they have s