Disposed
Binny Mathai v. State of Kerala
Kerala HCWP(C)/20770/2020
Case brief
AI extract
What is this about?
The Court held that the Popular Group's conduct was an Unregulated Deposit Scheme under the BUDS Act, 2019, attracting mandatory referral to the CBI under Section 30. It directed the State to frame Rules and notify a Designated Court within two weeks. Until then, CBI Courts (Special Courts) shall exercise civil and criminal jurisdiction. The entire investigation was transferred to the CBI.
What did the court decide?
Direction to State Government to frame Rules and appoint Designated Court under BUDS Act within 2 weeks. CBI Courts to exercise jurisdiction until Designated Court appointed. Investigation transferred