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IN THE HIGH COURT OF ORISSA AT CUTTACK
Orissa Homes Pvt. Ltd – Appellant
Versus
State of Odisha – Respondent
JUDGMENT :
Dr. Sanjeeb K Panigrahi, J.
1. The Appellant, in the present appeal, challenges the order dated 04.02.2022 passed by the learned Presiding Officer, Designated Court, Cuttack, in I.A. No.03 of 2019, on the grounds that the impugned order suffers from gross procedural irregularities and was rendered in violation of settled principles of natural justice.
I. FACTUAL MATRIX OF THE CASE
2. The brief facts of the case are as follows:
(i) The Appellant companies, M/s Odisha Homes Pvt. Ltd. and M/s Trisat Estates & Construction Pvt. Ltd., are engaged in the real estate business, including providing plots and flats to customers. Both companies are represented by their respective Managing Directors and operate within the territorial jurisdiction of this Court.
(ii) On 30.01.2018, one Shri Ashish Pattanaik lodged a written report before the Superintendent of Police, EOW, Bhubaneswar Police Station. It was alleged that M/s Odisha Homes Pvt. Ltd. was offering flats under a housing project titled “Anand Homes” at Mouza Kuha, Jatni Tahasil, District Khordha. The informant, attracted to the project, expressed his intention to purchase a 2BHK flat. On 27.04.2011, he deposited a booking amount o
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The Banning of Unregulated Deposit Schemes Act allows for the attachment and sale of property to ensure repayment to depositors without requiring a prior conviction of the deposit takers.
The court upheld the attachment of properties under the KPIDFE Act, emphasizing the necessity to protect depositors' interests despite the appellants' claims of procedural impropriety and lack of com....
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