property believed to be that of the financial institution. According to the respondent-State, by virtue of JDA dated 20th October, 2012, the financial institution i.e. the respondent No.3-Company, had acquired the properties of the petitioners and therefore, the respondent-State invoked the provisions contemplated under Section 3(2) of the KPID Act by issuing the attachment notice dated 22nd June, 2017. It is also not in dispute that the respondent No.3-Company paid a sum of Rs.16.00 crore to the petitioners as an advance security deposit while entering into JDA with the petitioner. However, the competent authority believe that, in terms of the provisions of the Act, the public had invested Rs.1639,63,45,230/- and nine cases were registered in the State of Karnataka and CID probe has been ordered by both the State of Karnataka and the State of Andhra Pradesh against the respondent No.3-Company and in furtherance of the same, the Special Court has been constituted as per Notification dated 22nd June, 2017 to protect the interest of the depositors. Though the learned counsel appearing for the petitioners raised contention regarding the jurisdictional aspect, however, it is open for the petitioner to urge the same ground before the Special Court constituted by