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BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
HONOURABLE MR. JUSTICE G.K.ILANTHIRAIYAN
Sukumaran Pillai – Appellant
Versus
State of Tamil Nadu – Respondent
ORDER :
G.K.ILANTHIRAIYAN, J.
This Writ Petition has been filed challenging the order passed by the fourth respondent thereby refused to register the settlement deed executed by the petitioner dated 26.09.2024 on the ground that the subject property is under the proposal of attachment in pursuant to the registration of criminal case on the file of the third respondent.
2. Heard the learned counsel on either side and perused the materials available on record.
3. The property comprised in Old Survey No.1264 (re-survey No.135/22B) to an extent of 27 cents and building, situated at Palugal Village under registered Will deed dated 17.04.1976 executed by the petitioner's since deceased mother, viz., Kunji Amma; the property comprised in Old Survey No.1262 to an extent of 3 cents (At present, as per lie, 4 cents in re-survey No.133/11 and 1 cent in re-survy No. 133/12A), situated at Palugal Village, under the registered Will deed; and the property comprised in old Survey No.1440 (re-survey No. 168/14A) to an extent of 5 cents situated at Palugal village under registered partition deed dated 19.04.1971; the property comprised in old Survey No.1261A (re-survey No.132/12A) to an extent of ¾ cent
Authorities can attach properties to protect depositors’ interests, not requiring links to crime proceeds, affirming constitutional property rights under Article 300 A.
Properties purchased with depositor funds are subject to attachment under the Tamil Nadu Protection of Interests of Depositors Act, regardless of subsequent transfers.
The central legal principle established in the judgment is the importance of protecting the interests of innocent depositors under the TNPID Act and the need to adjudicate fraudulent or malafide tran....
Properties purchased with funds linked to a defaulting financial establishment can be attached under the Act, regardless of the source of those funds.
The court emphasized the need for substantial evidence to support claims of mala fide transfers under the Tamil Nadu Protection of Interests of Depositors Act.
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