The High Court of Karnataka dismissed a miscellaneous first appeal filed under Section 16 of the Karnataka Protection of Interest of Depositors Act, 2004, holding it infructuous because the order appealed against had become infructuous and the main matter was disposed of.
The appeal and I.A.No.1/2021 were dismissed as infructuous.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
MFA No. 2550 of 2021
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 14TH DAY OF MARCH, 2023
PRESENT
THE HON'BLE MR JUSTICE K.SOMASHEKAR
AND
THE HON'BLE MR JUSTICE UMESH M ADIGA MISCELLANEOUS FIRST APPEAL NO. 2550 OF 2021
BETWEEN:
Digitally signed by D K BHASKAR Location: HIGH COURT OF KARNATAKA
THE COMPETENT AUTHORITY, FOR - IMA GROUP OF COMPANIES, REGIONAL COMMISSIONER OFFICE, BENGALURU DIVISION, 2ND FLOOR, BMTC BUILDING, K H ROAD,BENGALURU - 560 027.
…APPELLANT
(BY SRI. N KUMAR, AGA)
AND:
A COMPANY REGISTERED UNDER THE PROVISIONS OF COMPANIES ACT, REPRESENTED BY ITS MANAGING DIRECTOR, MOHAMED MANSOOR KHAN, NO. 56/4, 1ST FLOOR, NANDI BUILDING, HOSPITAL ROAD, SHIVAJINAGAR,BENGALURU - 560 001.
MFA No. 2550 of 2021
R/AT NO. 9, PENT HOUSE, BYTHAL MARIYAM APARTMENTS, 5TH FLOOR, PARK ROAD, TASKER TOWN, BENGALURU - 560 001.
…RESPONDENTS
(BY SMT. ASHRITHA, ADVOCATE FOR; SRI. P N HEDGE, ADVOCATE FOR C/R4)
THIS MFA IS FILED U/S.16 OF KARNATAKA PROTECTION AND INTEREST OF DEPOSITORS IN FINANCIAL ESTABLISHMENT ACT, 2004, AGAINST THE ORDER DATED 15.10.2020 PASSED IN MISC.PETITION NO.932/2019 ON THE FILE OF THE XXI ADDITIONAL CITY CIVIL AND SESSIONS JUDGE AND PRL. SPL. JUDGE FOR CBI CASES, BENGALURU, (CCH NO.4), ALLOWING THE APPLICATION FILED U/S.14 OF THE KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN FIANCIAL ESTABLISHMENTS ACT, 2004.
THIS APPEAL, COMING ON FOR ADMISSION, THIS DAY,
MFA No. 2550 of 2021
JUDGMENT
Learned AGA namely Sri. N Kumar is present
before this Court physically, whereas in this matter learned counsel Sri. P.N.Hegde, for respondent Nos.3 and 4 who is on record and whereby represented by counsel namely Smt. Ashritha and whereby the aforesaid counsel pressing to consider the memo dated 02.06.2022. In this memo, the counsel has specifically stated that the appeal is arising out of the order dated 15.10.2020 passed by the Court below in Misc. Petition No.932/2019. Initiation of the said proceedings on 12.11.2021 after holding the enquiry in accordance with law. Since the order is under challenge is of interim in nature and later the main matter
itself is disposed of and the appeal is rendered infructuous.
having become infructuous. Accordingly, the appeal is disposed of .
MFA No. 2550 of 2021
appeal, learned counsel for the respondent submits that there is no need for consideration of I.A.No.1/2021 seeking stay. Accordingly, I.A.No.1/2021 stands disposed of as having become infructuous.
Sd/JUDGE
Sd/JUDGE
SSD
1 provisions across 1 enactments
THE COMPETENT AUTHORITY, FOR - IMA GROUP OF COMPANIES, REGIONAL COMMISSIONER OFFICE, BENGALURU DIVISION
1. I MONETARY ADVISORY
2. MOHAMMED MANSOOR KHAN
3. L C NAGARAJ
4. SMT. N R NAGARATHNA
K SOMASHEKAR
UMESH M ADIGA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
