Property attachment notification of Yellow Express

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ವಿಶೇಷ ರಾಜ್ಯ ಪತ್ರಿಕೆ

ಬೆಂಗಳೂರು, ಶುಕ್ರವಾರ ,೨೦,ನವೆಂಬ್ರ, 2020(ಕಾತ್ರಿಕ, 29, ಶಕವರ್ಷ ೧೯೪2)

Bengaluru, FRIDAY,20,NOVEMBER,2020( Karthika,29, ShakaVarsha 1942)

ಭಾಗ – 3

Part – III

ನಂ. 570 No. 570 GOVERNMENT OF KARNATAKA

NO: RD 19 GRC 2019 Karnataka Government Secretariat, M. S. Building

Bengaluru, Dated:19.11.2020

NOTIFICATION

Whereas, upon considering the reports of Director General of Police, Criminal Investigation Department, Special Units and Economic Offences, Bengaluru District and after due investigation of the complaints of depositors it has come to the notice of the Competent Authority, that the M/s Yellow Express Logistics Limited Company are involved in fraudulent transactions by clandestinely and illegally collecting deposits or money following with the definition of 'deposit' under proviso to sub clause(1) of clause(4) of section 2 of the Banning of Unregulated Deposit Scheme Act, 2019(Central Act 21 of 2019) from the general public and thereafter have failed to return the same either after maturity or on demand made by the depositors or complainants with promised interest and other assured benefits and thereby have failed to render the services promised to them.

And whereas, it has further come to the notice of the Competent Authority that M/s Yellow Express Logistics Limited Company and people associating with them have been acquiring lands,movable and immovable properties,cash and others from and out of the deposits or money so collected, from the depositors or complainants and thereby deviating from the intended purposes of accepting the deposits or money and failed to refund the deposits.

And whereas the, Government of Karnataka in exercise of the powers conferred by sub section (1) of section 7 of the Banning of Unregulated Deposit Scheme Act, 2019 (Central Act 21 of 2019) has appointed the Principal Secretary to Government, Revenue Department as Competent Authority for the purpose of the said Act vide Notification No.FD 27 CAM 2019 dated:17-06-2020.

And whereas, the Competent Authority has reason to believe that the actions of the M/s Yellow Express Logistics Limited Company and people associating with them have violated section 3 and 5 of the Banning of

(೧)೨ Unregulated Deposit Scheme Act, 2019 (Central Act 21 of 2019) and are acting in and detrimental to the interest of the depositors or complainants whose intention was to defraud the innocent depositors, and it has become necessary to protect the interest of said depositors.

And whereas, now the Competent Authority after considering the report of the Director General of Police, Special Units and Economic Offences, Bengaluru District and satisfying itself about the urgent need to protect the interest of the depositors and in exercise of the powers conferred by sub- section (3) of Section 7 of the Banning of Unregulated Deposit Schemes Act, 2019 (Central Act 21 of 2019) hereby makes the following order, namely:-

"ORDER''

Now therefore, in exercise of the powers conferred by sub-section (3) of Section 7 of the Banning of Unregulated Deposit Schemes Act, 2019 (Central Act 21 of 2019), the Competent Authority under the circumstances stated above having satisfied that in order to protect the interest of depositors it is necessary to attach the movable and immovable properties believed to belong to M/s Yellow Express Logistics Limited Company.

Therefore, the Competent Authority hereby attaches all movable and immovable properties as specified in Annexures-1, 2, 3 and 4 to this order believed to have been acquired by the M/s Yellow Express Logistics Limited Company in its own name or in the name of any other person from and out of the deposits collected by the M/s Yellow Express Logistics Limited Company and where it transpires that such money or such other properties of the said financial establishment, or the personal assets of the promoters, partners, directors, managers or members or any other person of the said financial establishment is not sufficient for the repayment of the deposits or interest or such other assured benefits to the depositors.

Note: All the aforesaid movable and immovable properties, from the date of publication of this order in the Official Gazette, shall forthwith vest with the Competent Authority, who has been appointed by the State Government, pending further orders from the Special Court.

By Order and in the name of the

Governor of Karnataka

(Vijay D.S)

Under Secretary to Government

Revenue Department (Special Cell)೩

ANNEXURE-1

( Vijay. D.S) Under Secretary to Government Revenue Department (Special Cell)೧೭

( Vijay. D.S) Under Secretary to Government Revenue Department (Special Cell)೧೮

Annexure-3

( Vijay. D.S) Under Secretary to Government Revenue Department (Special Cell) R.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19

Licensed to post without prepayment WPP No. 297

Annexure-4

Details of seized Painting Booths

( Vijay. D.S) Under Secretary to Government Revenue Department (Special Cell) ಮುದ್ರಕರು ಹಾಗೂ ಪ್ರಕಾಶಕರು:- ಸಂಕಲನಾಧಿಕಾರಿಗಳು, ಕರ್ನಾಟಕ ರಾಜ್ಯಪತ್ರ, ಸರ್ಕಾರಿ ಕೇಂದ್ರ ಮುದ್ರಣಾಲಯ, ಬೆಂಗಳೂರು.