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BOMBAY HIGH COURT - APPELLATE SIDE,BOMBAY
R.V.MORE, J
R.S.A. Builders through its sole Proprietor Mr.Ankur Arora – Appellant
Versus
The State of Maharashtra through G.B.C.B., C.I.D., Crawford Market, Mumbai – Respondent
| Table of Content |
|---|
| 1. overview of properties involved and charges against individuals. (Para 4 , 5) |
| 2. arguments regarding ownership and status as bona fide purchaser. (Para 10 , 11) |
| 3. court's reasoning on lifting attachment due to statutory protections. (Para 13 , 14) |
| 4. final decision allowing appeal and lifting property attachment. (Para 17) |
1. Heard Mr.Saraogi the learned counsel for the appellant, Mr.Yagnik learned APP for the Respondent/State and Mr.Manoj Mohite the learned counsel for the respondent/complainant.
2. The appellant takes exception to the order dated 25th February, 2008 passed by the Special Judge for C.B.I. in Miscellaneous Application No.109 of 2007 whereby and whereunder, the appellant’s application for lifting of attachment of the property as described in the application under Section 9 of the Maharashtra Protection of Interest of Depositors (In Financial Establishment) Act, 1999 (In short ’M.P.I.D. Act’) came to be rejected.
3. Brief facts for the purpose of disposal of this appeal are as follows:
4. Absconding accused Major Kulbhushan Parti, his son Deepak K. Parti and other persons have floated a company by name M/s. Skymatic Finance Limited and op
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