(1)
Ļ¯ೇಷ ªಾಜÍ ಪĦÎೆ
GOVERNMENT OF KARNATAKA
NO: RD 7 GRC 2021
Karnataka Government Secretariat,
M. S. Building,
Bengaluru, Dated:19-02-2021
NOTIFICATION
It has come to the notice of the Government, that the financial establishments
viz., M/s Al Falah Consumer Needs is involved in the fraudulent transactions and failed
to return deposits to their depositors. Hence, the Government has decided to initiate
action as per the provisions specified under the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004 (Karnataka Act 30 of 2005).
The properties belonging to the said financial entities may have spread over in
various districts and depositors are scattered throughout the State of Karnataka and
possibly in other States also. In order to avoid duplication of efforts, necessity has arisen
to authorize Competent Authority to call for claims from all the depositors of M/s Al Falah
Consumer Needs .
Therefore, in exercise of the powers conferred by Section 5(1) of The Karnataka
Protection of Interest of Depositors in Financial Establishments Act, 2004 (Karnataka
Act.30 of 2005), the Government of Karnataka, hereby appoint Assistant Commissioner,
Bengaluru North Sub-Division, Bengaluru as the ‘Competent Authority’ in respect of M/s
Al Falah Consumer Needs with immediate effect.
By Order and in the name of the
Governor of Karnataka
(Vijay D.S)
Under Secretary to Government
Revenue Department (Special Cell)
¨sÁUÀ – 3
Part –III
, 19
, 2021 (
, 30,
, ೧೯೪2)
BENGALURU, FRIDAY, 19, FEBRUARY, 2021 (Magha, 30, SHAKAVARSHA, 1942)
. 197
No. 197