COMMON JUDGMENT

The issues involved in all these writ petitions are pertaining to the conduct of an “Unregulated Deposit Scheme” by Popular Group of Companies and its office bearers, directors,promoters etc.

2. The reliefs sought in W.P.(C)No.20828/2020, 20864/2020, 20902/2020 includes a direction to respondent No.2 to notify a Designated Court under Section 8 of the Banning of Unregulated Deposit Schemes Act, 2019 ( for short BUDS Act) and issue a direction commanding the 3rd respondent to make necessary reference to the first respondent under Section 30 of the BUDS Act and further command the first respondent to transfer the investigation to the 4th respondent CBI, besides the relief of writ of mandamus directing respondent No.5 to 8 to ascertain the scheme, if any, floated by Popular Finance Group of Companies and to initiate proceedings under the BUDS Act.

3. The reliefs sought in Writ petition Nos.18490/2020, 18397/2020, 19025/2020, 18712/2020 and 18852/2020 are (1) issue a direction to initiate proceedings under the Kerala Protection of Interest of Depositors in Financial Establishment Act, 2013 ( Act 7 of 2015) ( for short KPID Act)as against the owners, directors and promote