The competent authority must assess and determine the necessity of referring financial scam cases to the Central Bureau of Investigation under Section 30 of the BUDS Act.

These writ petitions are connected and therefore, I am disposing of these writ petitions by a common judgment. The prayers in these writ petitions are extracted hereunder :

WPC No. 27771/2023

(i) “Issue a writ of mandamus or any other writ or order directing the 4^th respondent to initiate actions as contemplated under Banning of Unregulated Deposit Schemes Act 2019, as against the 6^th respondent and to ensure the refund of the amount deposited by the petitioners 2 to 81 to them.

(ii) Issue a writ of mandamus or any other writ order directing the 4^th respondent to ensure that no money is paid to any depositor overlooking his authority to deal with the matter. And

(iii) Mould and grant any other writ or order as is deemed fit by this Hon’ble Court in the greater interest of justice.

(iv) Dispense with filing of the translation of vernacular documents. “ [sic]

(i) “Issue a writ of mandamus or any other writ or order directing the 6th respondent to refer the matter to the 7th respondent for conducting the investigation against the respondents 10 to 16 by the 8th respondent as contemplated under section 30 of the Banning of Unregulated Deposit Schemes Act 2019.

(ii) Issue a writ of mandamus of any other writ or order directing the 17th respondent to speed up the process initiated as per exhibit P8 and to realize the money and disburse the same to the petitioners.

(iii) Issue a writ of mandamus or any other writ order directing the 9th respondent to conduct an investigation in to the illegal transaction of funds tune the crores of rupees made by the respondents 10 to 16 in violation of Prevention of Money Laundering Act .

(iv) Mould and grant any other writ or order as is deemed fit by this Hon’ble Court in the greater interest of justice.

(v) Dispense with filing of the translation of vernacular documents “ [sic]

2. The petitioners are the victims of a financial scam. The petitioners' grievance is that the investigation in these cases are not going in a proper manner. It is also the grievance of the petitioners that the investigation is to be transferred to the Central Bureau of Investigation, in the light of Sec.30 of the The Banning of Unregulated Deposit Schemes Act, 2019 ( for short 'BUDS Act').

3. Heard the learned counsel for the petitioners and the learned Public Prosecutor.

4. Sec. 30 of the BUDS Act reads like this :

30. “Investigation of offences by Central Bureau of Investigation.

(1) On receipt of information under section 29 or otherwise, if the Competent Authority has reason to believe that the offence relates to a deposit scheme or deposit schemes in which—

(a) the depositors, deposit takers or properties involved are located in more than one State or Union territory in India or outside India; and

(b) the total value of the amount involved is of such magnitude as to significantly affect the public interest, the Competent Authority shall refer the matter to the Central Government for investigation by the Central Bureau of Investigation.

(2) The reference made by the Competent Authority under sub-section (1) shall be deemed to be with the consent of the State Government under section 6 of the Delhi Special Police Establishment Act, 1946 (25 of 1946).

(3) On the receipt of the reference under sub-section (1), the Central Government may transfer the investigation of the offence to the Central Bureau of Investigation under section 5 of the Delhi Special Police Establishment Act, 1946 (25 of 1946).”

5. As per Sec.30 of the BUDS Act, if the competent authority has reason to believe that the offence relates to the deposit scheme in which clauses (a) and (b) therein are applicable, the competent authority shall refer the matter to the Central Government for investigation by the Central Bureau of Investigation. Therefore, a reading of