In this batch of writ petitions, petitioners challenge the constitutional validity of Section 1(3) and Section 25(3) of the Banning of Unregulated Deposit Schemes Act, 2019 (for brevity 'the BUDS Act'). Petitioner also challenges the validity of section 5 of the Kerala Protection of Interest of Depositors in Financial Establishments Act, 2013 (for short, ‘the KPID Act’) as being repugnant to the BUDS Act. The retrospective effect given to the operation of the statute from 21.02.2019 under section 1(3) of the BUDS Act is challenged on the principle of ex post facto law and as being violative of Articles 14, 19 and 21. Few of the petitioners have, apart from the aforesaid contentions, also raised the question of none of the offences alleged against them as having been made out and have hence sought to quash the crimes against them.

2. One set of writ petitions is filed by Ms.Soumya Muraleedharan who is the second accused in S.C. No.708/2021 on the files of the Sessions Court, Palakkad and other connected cases. The other set is filed by Ms. Latha Sajeev who alleges that she was only an employee of the company which allegedly indulged in the crime and hence she has no involvem