Karnataka High Court
Mohammed Mansoor Khan vs The Competent Authority on 27 October, 2025
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 27TH DAY OF OCTOBER, 2025
PRESENT
THE HON'BLE MRS. JUSTICE ANU SIVARAMAN
AND
THE HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL
MISCELLANEOUS FIRST APPEAL NO.3055 OF 2022(RES)
C/W
MISCELLANEOUS FIRST APPEAL NO.3403 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3605 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3606 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3607 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3608 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3609 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3610 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3611 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3612 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3640 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3642 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3645 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3646 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3648 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3650 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3652 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3654 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3656 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3657 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3658 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3659 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3660 OF 2022(RES),
MISCELLANEOUS FIRST APPEAL NO.3661 OF 2022(RES),
AND
MISCELLANEOUS FIRST APPEAL NO.4307 OF 2022(RES)
IN MFA.NO.3055/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
2
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
3
DATED 07.03.2022 IN MISC.NO.688/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3403/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI.G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
4
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.694/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3605/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
5
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. NASEER HUSSAIN,
S/O ABID ALI KHAN,
R/AT: NO.2, PAYAPPA GARDEN,
TAKER TOWN, SHIVAJI NAGAR,
BENGALURU-560 001.
4. DIRECTORATE OF ENOFRCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.713/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
6
IN MFA.NO.3606/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD,
SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR,
NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
7
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.720/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3607/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
8
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU, KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH V.C.O
DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.695/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3608/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN, BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
9
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.723/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
10
IN MFA.NO.3609/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
11
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.707/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3610/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
12
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU, KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.692/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3611/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI.G. MOHAN KUMAR, ADVOCATE)
13
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.704/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
14
IN MFA.NO.3612/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
15
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.706/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3640/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI.G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
16
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DADAPEER I @ ASSADULLAH,
S/O IMAAM SAAB,
AGED ABOUT 35 YEARS,
R/AT: NO.101, 2ND CROSS,
MEHABOOBNAGAR,
DAVANAGERE-577 001.
4. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.714/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3642/2022:
BETWEEN:
I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
17
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R2)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.724/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3645/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
18
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. NASEER HUSSAIN,
S/O ABID ALI KHAN,
R/AT:NO.2, PAYAPPA GARDEN,
TAKER TOWN, SHIVAJI NAGAR,
BENGALURU-560 001.
4. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
19
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.715/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3646/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO.9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
20
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. NASEER HUSSAIN,
S/O ABID ALI KHAN,
R/AT:NO.2, PAYAPPA GARDEN,
TAKER TOWN, SHIVAJI NAGAR,
BENGALURU-560 001.
4. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.712/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3648/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO.9,
PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
21
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI.G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENOFRCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.689/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
22
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3650/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI.G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
23
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.691/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3652/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
24
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. SYED AHMED,
S/O SYED MOHAMMED SAHEB,
AGED ABOUT 37 YEARS,
4. SMT. AFSAN AHMED,
W/O SYED AHMED,
AGED ABOUT 32 YEARS,
BOTH RESPONDENTS NO.3 & 4 ARE
R/AT:106, ADAM SAHEB STREET,
RAYAPURAM, CHENNAI-600 013.
5. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R5,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.717/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
25
IN MFA.NO.3654/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
26
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.693/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3656/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO.9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
27
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. NASEER HUSSAIN,
S/O ABID ALI KHAN,
R/AT:NO.2, PAYAPPA GARDEN,
TAKER TOWN, SHIVAJI NAGAR,
BENGALURU-560 001.
4. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.711/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3657/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
28
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.702/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
29
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3658/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
30
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.690/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3659/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
31
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DADAPEER I @ ASSADULLAH,
S/O. IMAAM SAAB,
AGED ABOUT 35 YEARS,
R/AT: NO.101, 2ND CROSS,
MEHABOOBNAGAR,
DAVANAGERE-577 001.
4. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R4,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.710/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3660/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
32
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
33
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.705/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.3661/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2 . I MONETARY ADVISORY,
A COMPANY REGISTERED UNDER THE
PROVISIONS OF THE COMPANIES ACT,
REPRESENTED BY ITS MANAGING DIRECTOR,
MOHAMED MANSOOR KHAN,
NO.56/4, 1ST FLOOR, NANDI BUILDING,
HOSPITAL ROAD, SHIVAJI NAGAR,
BENGALURU-560 001.
34
3. DIRECTORATE OF ENFORCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC, K.H. ROAD,
SHANTHINAGAR, BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R3,
R2-SERVICE OF NOTICE IS DISPENSED WITH
V.C.O DTD:10.07.2025)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 07.03.2022 IN MISC.NO.703/2019 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
IN MFA.NO.4307/2022:
BETWEEN:
MOHAMMED MANSOOR KHAN,
S/O. LATE ABID ALI KHAN,
AGED ABOUT 45 YEARS,
R/AT NO. 9, PENT HOUSE,
BYTHAL MARIYAM APARTMENTS,
5TH FLOOR, PARK ROAD,
TASKER TOWN,
BANGALORE-560 001.
... APPELLANT
(BY SRI. G. MOHAN KUMAR, ADVOCATE)
AND:
1 . THE COMPETENT AUTHORITY,
FOR-I.M.A. GROUP OF COMPANIES/
REGIONAL COMMISSIONER- (REV),
BENGALURU DIVISION,
BENGALURU,
35
2ND FLOOR, BMTC COMPLEX,
K.H. ROAD, SHANTHI NAGAR,
BENGALURU-560 027.
2. DIRECTORATE OF ENOFRCEMENT,
REPRESENTED BY DEPUTY DIRECTOR,
3RD FLOOR, 'B' BLOCK, BMTC,
SHANTINAGAR-TTMC,
K.H. ROAD,
SHANTHINAGAR,
BENGALURU,
KARNATAKA-560 027.
...RESPONDENTS
(BY SRI. VEERESH R. BUDIHAL, ADVOCATE FOR R1,
SRI. MADHUKAR DESHPANDE, ADVOCATE FOR R2)
THIS MFA IS FILED UNDER SECTION 16 OF THE
KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS ACT, 2004, AGAINST THE ORDER
DATED 31.05.2022 IN MISC.NO.569/2022 ON THE FILE OF THE
XCI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND
SPECIAL JUDGE FOR KPIDFE CASES, BENGALURU (CCH-92),
ALLOWING THE PETITION FILED UNDER SECTION 5(2) OF THE
KPIDFE-ACT-2004.
THESE APPEALS HAVING BEEN HEARD AND RESERVED FOR
JUDGMENT ON 13.10.2025 AND COMING ON FOR
PRONOUNCEMENT OF JUDGMENT THIS DAY, ANU SIVARAMAN
J., PRONOUNCED THE FOLLOWING:
CORAM: HON'BLE MRS. JUSTICE ANU SIVARAMAN
and
HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL
36
CAV JUDGMENT
(PER: HON'BLE MRS. JUSTICE ANU SIVARAMAN)
Miscellaneous First Appeals No.3055/2022, 3403/2022,
3605/2022, 3606/2022, 3607/2022, 3608/2022,
3609/2022, 3610/2022, 3611/2022, 3612/2022,
3640/2022, 3642/2022, 3645/2022, 3646/2022,
3648/2022, 3650/2022, 3652/2022, 3654/2022,
3656/2022, 3657/2022, 3658/2022, 3659/2022, 3660/2022
and 3661/2022 are preferred against the common order
dated 07.03.2022 passed by the XCI Additional City Civil
and Sessions Judge, Bengaluru (CCH-92) ('Special Court' for
short) in Misc.No.688/2019 and connected matters under
Section 5(2) of the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004 ('KPIDFE
Act' for short).
Miscellaneous First Appeal No.4307/2022 is preferred
against the order dated 31.05.2022 passed by the XCI
Additional City Civil and Sessions Judge, Bengaluru (CCH-
92) ('Special Court' for short) in Misc.No.569/2019 under
Section 5(2) of the 'KPIDFE Act.
2. The learned counsel appearing for the appellant
Shri. Vignesh Shetty, had filed a memo of relinquishment of
Vakalath. The learned counsel, Shri G. Mohan Kumar,
appearing for the appellant, had sought time to file the
Vakalath when the matters were listed on 13.10.2025. The
matters were re-listed on 16.10.2025. However, when the
matters were taken up for further hearing today, that is, on
16.10.2025, there was no appearance on behalf of the
appellant and it appears that no Vakalath has also been
filed.
Accordingly, we have considered the contentions raised
in the appeals; we have also heard Shri. Veeresh R.
Budhihal, learned counsel appearing for respondent No.1
and Shri. Madhukar Deshpande, learned counsel appearing
for respondent No.3.
3. The appellants herein are the financial
establishment, its Managing Director, Directors and other
persons closely associated with the financial establishment
and its subsidiary Firms and Companies. The subject
properties are the properties purchased either by the
establishment or the Managing Director or other Directors or
Partners, who are directly connected to the financial
establishment during the period from 2014 to 2018. An
interim order of attachment was passed by the Government
of Karnataka attaching the properties of the appellants
exercising power under Section 3(2) of the KPIDFE Act. The
orders were duly published in the Official Gazette as also in
Newspapers. Thereafter, finding certain errors, Corrigendum
Notifications were also issued which were also duly
published. The competent authority had thereafter filed an
application under Section 5 of the KPIDFE Act seeking to
make the interim order of attachment absolute. Notice was
issued, pursuant to which the Financial Establishment and its
Managing Director had entered appearance through Counsel.
The other respondents did not appear. They raised a
contention that the Notification under Section 3(2) of the
KPIDFE Act was issued without application of mind and the
same is illegal.
4. It was also contended that Writ Petition
No.45009/2019 had been filed before this Court to quash
the Notification issued under Section 3(2) of the KPIDFE Act
and that the application under Section 5(2) of the KPIDFE
Act is therefore liable to be dismissed. Further, a contention
was raised that amounts were collected as investments from
investors in the Company and that they do not fall within the
definition of 'deposit' under the KPIDFE Act. Further, it was
contended that the required details were absent in the
petition and that no orders extending the attachment could
have been passed.
5. The Special Court considered the contentions and
found that the petition schedule properties were attached by
the Government exercising power under Section 3(2) of the
KPIDFE Act. Referring to the provisions of the KIPDFE Act
especially Sections 2, 12(1) and 12(6) thereof, the Special
Court came to the conclusion that it was for the appellants
to show-cause as to why the interim order of attachment
should not be made absolute and in the absence of any
proper reason being stated by the appellants, the orders
were liable to be made absolute. Further, it was found that
the definition of 'deposit' under Section 2(3) of the KPIDFE
Act would cover all amounts including contributions towards
working capital and that the said contention is completely
without substance.
6. Further, it was found that all necessary material
to find that the Financial Establishment had collected large
amounts from the depositors and was unable to repay such
deposits and that the properties available with the Financial
Establishment was grossly insufficient to repay the
depositors had all been made available by the competent
authority before the Special Court. Rejecting the
contentions of the Financial Establishment and its Managing
Director, the attachment was made absolute.
7. These appeals are preferred raising the same
contentions with regard to the definition of 'deposit' under
Sections 2(2) and 2(3) of the KPIDFE Act. Further, a
contention is raised that the properties in question have
been attached by the Enforcement Directorate and that the
very same properties could not be attached under the
provisions of the KPIDFE Act.
8. The learned counsel appearing for the competent
authority submits that the competent authority had filed
Writ Petition No.29299/2023 before this Court seeking to set
aside the order dated 04.02.2023 passed by the XXI
Additional City Civil and Sessions Judge, Bangalore (CCH-
04) on I.A.No.1/2022 in Special CC No.1088/2019. The
Enforcement Directorate entered appearance in the matter
and submitted on instructions that the Directorate has no
objection to release the properties that are overlapping
which are under attachment both by the petitioner and the
Directorate to the competent authority under the KPIDFE
Act. The writ petition was therefore disposed of, leaving
open the legal questions and directing respondent No.1 -
Directorate of Enforcement to de-attach the properties from
its hold and to permit the attachment of those properties by
the competent authority.
9. With regard to the question of deposit also, the
learned counsel would submit that a bare reading of the
definition of 'deposit' under the KPIDFE Act would make it
clear that even investments would come within the term
'deposit' under the said definition.
10. The learned counsel for the competent authority
has placed the following judgments:-
• The Competent Authority v. The Directorate of
Enforcement, by Order dated 24.02.2025 passed
in W.P.No.29299 of 2023 (GM-RES);
• Mr. Ashish Mahendrakar v. State of
Maharashtra, by Order dated 13.09.2019 passed
in W.P.No.3228 of 2019; and
• Milind Satish Sawant v. The State of
Maharashtra, by Order dated 04.09.2025 passed
in Bail Application No.1175 of 2025.
11. Having considered the contentions advanced, we
find that though it is contented that the writ petition had
been filed challenging the Notification under Section 3(2) of
the KPIDFE Act, no orders are passed thereon. The Writ
Petition No.45009/2019 had been listed before the Bench on
10.10.2019 and on several occasions thereafter, the last
listing being on 28.08.2024. However, there are no interim
orders passed in the same. In the above circumstances, the
action of the Competent Authority in having preferred the
application under Section 5(2) of the KPIDFE Act and of the
Special Court in having considered the said application is
unexceptionable.
12. Further, we notice that Section 2(2) of the
KPIDFE Act defines 'deposit' as follows:-
"(2) "Deposit" includes and shall be deemed
always to have included any receipt of money or
acceptance of any valuable commodity by any Financial
Establishment to be returned after a specified period or
otherwise, either in cash or in kind or in the form of a
specified service with or without any benefit in the form of
interest, bonus, profit or in any other form, but does not
include,-
(i) amount raised by way of share capital or by
way of debenture, bond or any other
instrument covered under the guidelines
given and regulations made, by the Security
Board of India, established under the
Securities and Exchange Board of India Act,
1992;
(ii) amounts contributed as capital by partners of
a firm;
(iii) amounts received from a scheduled bank or
a co-operative bank or any other banking
company as defined in clause (c) of section 5
of the Banking Regulation Act, 1949 (Central
Act 15 of 1992) ;
(iv) any amount received from,-
(a) the Industrial Development Bank of
India,
(b) a State Financial Corporation,
(c) any financial institution specified in or
under section 4A of the Companies
Act, 1956(Central Act 1 of 1956) or
(d) any other institution that may be
specified by the Government in this
behalf;
(v) amounts received in the ordinary course of
business by way of,-
(a) security deposit,
(b) dealership deposit,
(c) earnest money,
(d) advanced against order for goods or
services;
(vi) any amount received from an individual or a
firm or an association of individuals,
registered under any enactment relating to
money lending which is for the time being in
force in the State: and
(vii) any amount received by way of subscriptions
in respect of a Chit."
Section 2(3) of the KPIDFE Act defines 'depositor' as
follows:-
"(3) "Depositor" means a person who has made
deposits with Financial Establishment;"
13. On a close reading of the definitions, we are of
the opinion that any amount paid by any person to a
financial establishment would answer the definition of
deposit unless such amount falls within the exceptions as
provided under sub-clause (i) to (vii) which are specifically
the exceptions to deposit under Section 2(2) of the KPIDFE
Act. The appellants have not placed any pleadings on record
or produced any material to substantiate their contention
that the amounts fall within any of the exceptions provided
under sub-clauses (i) to (vii) of Section 2(2) of the KPIDFE
Act. If the amounts were raised as share capital,
debentures, bonds etc, there would be clear records to show
the same. Therefore, going by the definition of deposit, the
amounts accepted by the financial establishment which are
not specifically covered by the exceptions would fall within
the definition of deposit. In that view of the matter, there is
no merit in the said contention. Further, the contention that
the properties are already under attachment by the
Enforcement Directorate, also does not survive for
consideration. The decisions relied on by the learned
counsel for the respondents would support the contentions
urged by the respondents.
14. In the said circumstances, we are of the opinion
that no sustainable grounds have been raised in these
appeals for our consideration. These appeals therefore fail
and the same are accordingly dismissed.
All pending interlocutory applications shall stand
dismissed in all the appeals.
Sd/-
(ANU SIVARAMAN)
JUDGE
Sd/-
(VIJAYKUMAR A. PATIL)
JUDGE
cp*
