Disposed

Manappuram Finance Ltd. v. the State of Karnataka

Karnataka HC19 Aug 2024WP/11102/2024

Case brief

AI extract

What is this about?

Petitioner NBFC sought directions regarding procedure for producing pledged gold ornaments pledged with it during police investigation and trial based on an FIR alleging stolen gold ornaments. High Court ordered respondents to follow directions issued by Madras High Court in WP (MD) No.17697/2023, including keeping jewels in safe custody, notifying before Section 451 applications, and photographin

What did the court decide?

Petitioner discharged. Respondents 2 and 3 directed to follow directions issued by Madras High Court in WP (MD) No.17697/2023 regarding custody, production, and legal proceedings involving pledged gol

Manappuram Finance Ltd. Vs the State of Karnataka — Banking and Recovery | Karnataka HC (2024)

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NC: 2024:KHC:33265 WP No. 11102 of 2024

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 19^TH DAY OF AUGUST, 2024

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BEFORE

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THE HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR WRIT PETITION NO. 11102 OF 2024 (GM-RES)

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BETWEEN:

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MANAPPURAM FINANCE LTD HAVING ITS REGISTERED OFFICE AT MANAPPURAM HOUSE A.O. VALAPAD TRISSUR DISTRICT KERALA 680 567 HAVING ONE OF ITS REGIONAL IOFFICE AT K.R. ROAD, BANNASHANKARI II STAGE BUILDING NO.4, FIRST FLOOR, 27TH CROSS SANKRANTHI COMPLEX OPPOSITE SEVAKSHETRA HOUSE BENGALURU 560 070 REP BY ITS AUTHORIZED REPRESENTATIVE SRI. SURYAPRABHA M V GENERAL MANAGER (LEGAL CORPORATE ) …PETITIONER

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(BY SRI. B N MAHESH CHANDRA, ADVOCATE FOR SRI. SATYANARAYANA CHALKE S, ADVOCATE)

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Digitally signed by B K MAHENDRAKUMAR Location: HIGH COURT OF KARNATAKA

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AND:

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THE STATE OF KARNATAKA REPT BY ITS SECRETARY HOME DEPARTMENT VIDHANA SOUDHA DR. B.R. AMBEDKAR VEEDHI BENGALURU 560 001.

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RESERVE BANK OF INDIA OPP. ST. MARTHA'S HOSPITAL NO. 10/3/8, NRUPATHUNGA ROAD OPP ST. MARTHAS HOSPITAL DR. B.R. AMBEDKAR VEEDHI BENGALURU 560 001 REPT BY ITS MANAGER.

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2 - NC: 2024:KHC:33265 WP No. 11102 of 2024

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DIRECTOR GENERAL AND INSPECTOR GENERAL OF POLICE KARNATAKA STATE POLICE HEADQUARTERS NO. 2, NRUPATHUNGA ROAD, BESIDE RBI DR. B.R. AMBEDKAR VEEDHI BHENGALURU-560 001 REPT BY THE SPP HIGH COURT BUILDING DR. B.R. AMBEDKAR VEEDHI BENGALURU 560 001.

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THE SECRETARY DEPARTMENT OF ECONOMIC AFFAIRS MINISTRY OF FINANCE NORTH BLOCK NEW DELHI-110 001.

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…RESPONDENTS

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(BY SMT. NAVYA SHEKHAR, AGA FOR R1 & R3; SMT. L V APARNA, ADVOCATE FOR R4)

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THIS WP IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECTIONS / GUIDELINES TO BE FOLLOWED BY R2 AND R3 REGARDING THE PROCEDURE TO BE ADOPTED FOR PRODUCTION OF GOLD ORNAMENTS DEPOSITED/PLEDGED WITH NBFC GOLD LOADN COMPANIES DURING THE INVESTIGATION AND TRAIL BASED ON A FIR OF ALLEGED STOLEN GOLD ORNAMENTS PLEDGED WITH PETITIONER AND ETC.,

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THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

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CORAM: HON'BLE MR JUSTICE HEMANT CHANDANGOUDAR

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ORAL ORDER

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The petitioner is a non-Banking Financial Company registered and licensed with the respondent No.2 under the provisions of Chapter-III(B) of Reserve Bank of India Act, 1934.

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3 - NC: 2024:KHC:33265 WP No. 11102 of 2024

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The petitioner are aggrieved by the action of the Investigating Officer in seizing the gold articles/ornaments pledged with the petitioner - Bank during the course of investigation of crime alleging that the gold articles/ornaments pledged with the petitioner - Bank are stolen properties. The petitioner is before this Court seeking for a direction to the police regarding the procedure to be adopted for production of gold ornaments pledged with the petitioner - Bank during the investigation and trial based on the FIR of alleged stolen gold ornaments pledged with the petitioner - Bank.

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In identical circumstances, the Madurai Bench of Madras High Court in WP (MD) No.17697/2023 has issued the following directions:

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"1. The petitioner company is directed to keep all the gold jewels as described in the petition intact with the petitioner company itself in safe custody;

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The petitioner company shall not sell or auction all the gold jewels without permission of the Court;

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The petitioner company shall produce these gold jewels as and when directed by the respondents police during the course of investigation if at all the police intend to conduct Test Identification Parade or for any other similar purpose;

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The petitioner company shall also produce the gold jewels before the Court in case the trial Court directs the petitioner company to produce them during the course of trial;

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The trial Court is directed not to consider application under Section 451 of Cr.PC and is directed to pass appropriate orders at the time of deposal of the main case in Crime No.27 of 2023 in respect of disposal

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NC: 2024:KHC:33265 WP No. 11102 of 2024

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of the property under Section 452 of Cr.P.C. If at all any application is filed under Section 451 of Cr.P.C, the trial Court shall issue notice to the petitioner company before considering the same;

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In case, if the petitioner company or the respondents police aggrieved by the orders passed under Section 452 of Cr.P.C by the learned Magistrate, then the aggrieved party can approach the appropriate Court to challenge the same; and

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The gold jewels should be photographed at the cost of the petitioner company and a list is to be prepared and the same is to be signed by the petitioner company."

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With the above observations, the petition stands disposed of. The respondents No.2 and 3 shall following the aforesaid directions.

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Sd/(HEMANT CHANDANGOUDAR) JUDGE

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BKM

Manappuram Finance Ltd. v. the State of Karnataka

Case brief

What is this about?

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Manappuram Finance Ltd. v. the State of Karnataka

Case brief

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