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2017 (10) TMI 1590 - HC - Companies LawAttachment of properties of petitioners - Invocation of section 4 of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 - HELD THAT:- It is evident that impugned notices have been issued by the authorities in view of provisions of the MPID Act promulgated by State of Maharashtra for curbing the unscrupulous activities of Financial Establishments in the State. The Act provides for attachment of properties of Financial Establishments to ensure return of the deposits made by the public. It appears that authorities in Union Territory, Chandigarh and States of Punjab and Haryana have merely acted on the basis of communications/notices received from the appropriate authority in State of Maharashtra. Investigation pursuant to FIR No. 216 dated 30.09.2013 registered at police station MRA Manj, District Mumbai and sections 3 & 4 of the MPID Act appears to be pending at Mumbai. No ground is thus, made out for entertaining these petitions by this court. Petition dismissed.
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