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Part – III BENGALURU, MONDAY, 04, MARCH, 2024(PHALGUNA , 14, SHAKAVARSHA, 1945) No. 155
GOVERNMENT OF KARNATAKA
NO: E-RD 27 GRC 2024 Karnataka Government Secretariat,
M. S. Building,
Bengaluru, Dated: 04.03.2024
NOTIFICATION
Whereas, upon considering the investigation report submitted to Government by
Director General of Police, Criminal Investigation Department (CID), Special Units
and Economic Offences, Carlton House, Palace Road, Bengaluru, with respect
to Crime No. 143/2019, Dated: 30-10-2019 registered at Nelamangala Town Police
Station regarding M/s Yellow Express Logistics Limited Company, fraudulent
case, the Government has issued provisional attachment notifications under sub
section (3) of Section 7 of the Banning of Unregulated Deposit Schemes Act, 2019
(Central Act 21 of 2019) by attaching the movable and immovable properties belonging
to the said fraudulent company vide Government Notifications 1) No. RD
19 GRC 2019, Dated: 19-11-2020 and 2) No. RD 19 GRC 2019, Dated: 31-10-2022,
corrigendum dated: 22-12-2022 for the said notification.
Accordingly, Assistant Commissioner, Doddaballapura Sub-Division and Assistant
Competent Authority under BUDS Act has filed the petition vide
Misc./06/2021 before the designated court, i.e., Hon’ble Principal District
and Sessions Judge, Bengaluru Rural seeking the provisional attachment
notification dated: 19-11-2020 to be made absolute under section 14(1) of Banning of
Unregulated Deposit Schemes Act, 2019 (Central Act 21 of 2019), and he has also
filed an Interim appeal no.I, requesting Hon’ble Court to pass order expeditiously for
sale of depreciable movable assets provisionally attached to realise maximum value
without allowing such assets to lose their value, under the provisions of BUDS act.
(1)R.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19
Licensed to post without prepayment WPP No. 297
2
After hearing Hon’ble Court rejected Interim appeal no.I, vide order
dated: 20-12-2021.
Meanwhile, Special Court/designated court was established exclusive for the trail
of civil cases filed under KPID and BUDS cases, i.e., Hon’ble XCI Addl. City Civil
and Sessions Judge, Bengaluru (CCH-92) vide Government Notifications
No.LAW-LCE/52/2021, Dated: 10-06-2021, and Dated: 09-11-2021 accordingly, the
said case was shifted to Special Court on 08-02-2022. Assistant Commissioner,
Doddaballapura Sub-Division and Assistant Competent Authority under BUDS Act,
has filed the petition vide Misc. No.263/2022 before the designated
court, i.e., Hon’ble XCI Additional City Civil and Sessions Judge, Bengaluru seeking
the provisional attachment notification dated: 19-11-2020 to be made absolute under
section 14(1) of Banning of Unregulated Deposit Schemes Act, 2019 (Central Act 21
of 2019). After hearing, Hon’ble Court rejected the petition filed by assistant
competent authority as the same is not maintainable vide order dated: 17-08-2022.
Hence in view of the above, in order to protect the interest of the depositors and
to take further action in the case under the provisions of KPIDFE Act 2004, the
provisional attachment Government Notifications 1) No. RD 19 GRC 2019,
Dated: 19-11-2020 and 2) No. RD 19 GRC 2019, Dated: 31-10-2022 and corrigendum
22-12-2022 issued under the BUDS Act 2019 in respect of M/s Yellow Express
Logistics Limited Company fraudulent case are withdrawn with immediate effect.
By Order and in the name of the
Governor of Karnataka
(Anwar Basha)
Deputy Secretary to Government,
Revenue Department (Services-1,
SSLR & Special Cell)
[
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