(1)
Ļ¯ೇಷ ªಾಜÍ ಪĦÎೆ
PÀ£ÁðlPÀ «zsÁ£À¸À¨sÉ
ºÀ¢£ÉÊzÀ£Éà «zsÁ£À¸À¨sÉ
ºÀ¢ªÀÄÆgÀ£Éà C¢üªÉñÀ£À
ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ (ൟൿ౪ಪല)
เඒಯಕ, 2022
(2022gÀ «zsÁ£À¸À¨sÉAiÀÄ «zsÉÃAiÀÄPÀ ¸ÀASÉå-14)
ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ,
2004ඝ౬ ಮತ౨ౣ ൟൿ౪ಪല ಡฤ ಒಂൿ เඒಯಕ.
ಇย ಇඝ౬෨ಂං ಉഴಬฆವ ಉං౪ೕಶಗัಛಜ ಕකბಟಕ ಹಣ౽ ౩ಗಳย
ഩವർರರ ൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ, 2004ඝ౬ (2005ರ ಕකბಟಕ ಅඌඛಯಮ 30)
ಮತ౨ౣ ൟൿ౪ಪല ഴโൿ ಕ౨฿ಜฆโದคಂದ;
ಇൿ
ූರತ
ಗಣฃಜದ
ಎಪ౭ൢರඡ
ವಷბದย
ಕකბಟಕ
ฃಜ
เඋನಡಲൽಂದ ಈ ෨ಂൽඦ ಅඌඛಯ෦ತ฿ಗย:-
1. ౾౹ಪ౨ ກಸฆ ಮൡ౨ ඩฏಭ.- (1) ಈ ಅඌඛಯಮವඝ౬ ಕකბಟಕ ಹಣ౽
౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ (ൟൿ౪ಪല) ಅඌඛಯಮ, 2022 ಎಂൿ
ಕฉಯತಕౙൿ౪.
(2) ಇൿ 2022ರ ෬ 04ඡ ൽකಂಕൽಂದ ೦คಡ ීൽฆโർಜ ූเಸತಕౙൿ౪.
2. 9ಎ ຄಸ ಪಕರಣದ ಪბഷ.- ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ
൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ, 2004 (2005ರ ಕකბಟಕ ಅඌඛಯಮ 30)ರ (ಇย ಇඝ౬
෨ಂං ෩ಲ ಅඌඛಯಮ ಎಂൿ ಉวೕಸมಜං) 9ඡ ಪಕರಣದ ತฆ฿ಯ ಈ
෨ಂൽನದඝ౬ คಸತಕౙൿ౪. ಎಂದฉ:-
¨sÁUÀ – 4 ಎ
Part – IV A
, 13
2022(
22
1944)
BENGALURU, TUESDAY, 13, SEPTEMBER, 2022(BHADRAPADA, 22, SHAKAVARSHA, 1944)
. 448
No. 448
2
“9ಎ. ಅಪฃಧಗಳ ೬ౢೕಯ ಮൡ౨ ಪಕರಣಗಳඝ౬ เยೕನತัವ
ಅඌ౽ರ.- (1) ಈ ಅඌඛಯಮದ ಅലಯยನ ಅಪฃಧโ ೬ౢೕಯ฿ಜರತಕౙൿ౪ ಮൡ౨
೦෦ೕඝರತ฿ಜರತಕౙൿ౪.
(2)
ತ൞ౙಲದย
೦คಯยฆವ
෴โඃ
ಇತರ
౽ඞඛನย
ಏඡ
ಒಳತಂലದ౪ง, ๋ಚඣೕං౪ೕಶದ ඩವൟಡ ීඌඈ ಅඃ ಆฌೕඪತ ವ౾౨
ಅಥ฿ ಹಣ౽ ౩ಯ เฆದ౫ ೧วಯ ಅಥ฿ ಕ෦ೕಷನชഡ ನ ಒಂൿ ยೕ
ഢൕಯย ಅಥ฿ ಹಲโ ยೕ ഢൕಗಳย ಅಥ฿ ฃಜದ ಹಲโ ยೕ
ഢൕಗಳย
ಹಲ฿ฆ
ಪಥಮ
ವತბನ
ವರൽಗำ
ർಖมಜದ౪ย,
ಆಗ
ඛಯ෦ಸಬർದ ಅಂಥ ಅඌ౽ค ಆඦತರದย ർಖมದ ಪಥಮ ವತბನ
ವರൽಗಳඝ౬ ෮ದยನ ಪಕರಣඅಂൽಡ เยೕನತัಸฤ ಆඃ๏ಸಬൿ ಟ
ನ ತඛಒಯඝ౬ ಅತಳฤ ಆඃ๏ಸಬൿ. ෨ಂൿವฉൿ ඈಡ ಪ౾෴
, 1973ರ 173ඡ ಪಕರಣದ ಅലಯย ಒಂඃ ಅಂൟಮ ವರൽಯඝ౬ ෮ದฤ ಪಥಮ
ವತბನ ವರൽಯඝ౬ ർಖยದ ಅඌ౽ರ ฿ඪ౨ಳಜನ เ๕ಷ ක෴ಲಯದ
෨ಂං ർಖยโൿ ಟ ಅದඝ౬ ಆ เ๕ಷ ක෴ಲಯ ಅಥ฿ ಅಂಥ ಅಪฃಧದ
ಅඌเೈರൕಡ ກಸคಸมದ ෴โඃ ಇತರ เ๕ಷ ක෴ಲಯโ ಅඌเೈರൕಯඝ౬
ನഷಸತಕౙൿ౪.”
3.
10ඡ ಪಕರಣದ ൟൿ౪ಪല.-
෩ಲ ಅඌඛಯಮದ 10ඡ ಪಕರಣದ
(3)ඡ ಉಪಪಕರಣದ ತฆ฿ಯ ಈ ෨ಂൽನದඝ౬ คಸತಕౙൿ౪, ಎಂದฉ:-
“(4) ಈ ಅඌඛಯಮದ ಅലಯย ಅಪฃಧದ ಅඌเೈರൕಯඝ౬ ನഷ฿ಗ
เ๕ಷ ක෴ಲಯโ ಈ ಅඌඛಯಮದ ಅലಯยನ ಅಪฃಧವඝ౬ ຄರൡಪല
ඈಡ
ಪ౾෴
,
1973ರ
ಅലಯย
෴ವ
เೈರൕಛಜ
අೕฌೕඪಸมಜංೕ ಆ ಅಪฃಧದ ಅඌเೈರൕಯඝ౬ ಸಹ ನഷಸಬൿ.”
4. ඛರಸನ ಮൡ౨ ಉัเಃಗำ.- (1) ಕකბಟಕ ಹಣ౽ ౩ಗಳย
ഩವർರರ ൞ಸ౾౨ ರౘൕ (ൟൿ౪ಪല) ಅඋඃಶ, 2022ඝ౬ (2022ರ ಕකბಟಕ
ಅඋඃಶ 01) ಈ ෩ಲಕ ඛರಸನತัಸมಜං.
(2) ಅಂಥ ඛರಸನโ ಏඡ ಒಳತಂലದ౪ง ಸದค ಅඋඃಶದ ෩ಲಕ
ൟൿ౪ಪല෴ඈ ෩ಲ ಅඌඛಯಮದ ಅലಯย ಏඡ ലದ౪ง ಅಥ฿ ෴โඃ
ಕಮವඝ౬ ಅತಂലದ౪ง ಈ ಅඌඛಯಮದ ಅലಯย ൟൿ౪ಪല෴ඈ ෩ಲ
ಅඌඛಯಮದย ಡมಜං ಅಥ฿ ಅತಳมಜං ಎಂൿ ූเಸತಕౙൿ౪.
3
ಉං౪ೕಶಗำ ಮൡ౨ ౽ರಣಗಳ ຂัಃ
ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ, 2004
(2005ರ ಕකბಟಕ ಅඌඛಯಮ 30)ඝ౬,-
(1)
ಈ
ಅඌඛಯಮದ
ಅലಯยನ
ಅಪฃಧವඝ౬
೬ౢೕಯ
ಮൡ౨
೦෦ೕඝರತๅಂൿ ಪคಗಸฤ;
(2) ಆฑ..ಐ ನยನ ಎ ಎฯ ಸොಯย ಚბඈ ಎม ಪಥಮ ವತბನ
ವರൽಗಳඝ౬ เยೕನತัโದ౽ౙಜ ಮൡ౨ ಅඃ ಆฌೕඪತ ಅಥ฿ ಅඃ ಹಣ౽
౩ಯ เฆದ౫ ಒಂඃ ಪಕರಣವඝ౬ ർಖยโದඝ౬ ಉಪීඌಸฤ; ಮൡ౨
(3) ಈ ಅඌඛಯಮದ ಅലಯยನ ಅಪฃಧದವඝ౬ ຄರൡಪല ඈಡ ಪ౾෴
, 1973ರ ಅലಯย ෴ವ ಅඌเೈರൕಛಜ අೕฌೕඪಸมಜංೕ ಆ
ಅಪฃಧದ ಅඌเೈರൕಯඝ౬ ನഷಸฤ เ๕ಷ ක෴ಲಯಗัಡ ಅඌ౽ರವඝ౬
ඛೕಡฤ,
-ൟൿ౪ಪല ഴโൿ ಅವಶಕๅಂൿ ಪคಗං.
เಷಯโ ൡൡბಸ౷งಪർ౪ದ౪คಂದ ಮൡ౨ ಕකბಟಕ เඋನಡಲದ ಉಭಯ
ಸದನಗำ ಅඌๆಶನದย ಇಲൽൿ౪ದคಂದ, ෬ยನ ಉං౪ೕಶವඝ౬ ඌಸฤ ಕකბಟಕ
ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ (ൟൿ౪ಪല) ಅඋඃಶ, 2022ඝ౬
(2022ರ ಕකბಟಕ ಅඋඃಶ 01) ಪಌඪಸมಜൡ౨.
ಈ เඒಯಕโ ಅඋඃಶದ ಬದย เඒಯಕ฿ಜං.
ಆದ౪คಂದ ಈ เඑಯಕ.
ಆ൮ბಕ ೦ౢಪನ ಪತ
ಪ౨เತ ๎ಸකತಕ ಕಮโ ෴โඃ ກನ ๅಚವඝ౬ ಒಳತಂലฆโൽಲ.
ಕකბಟಕ เඋನ ಸොಯ ౽ಯბ เඋನ ಮൡ౨ ನಡವัಃ ඛಯಮಗಳ 80ඡ
ඛಯಮದ (1)ඡ ಉಪඛಯಮದ ෩ಲಕ ಅಗತಪലಸมඈ เವರ൏ತಕ ຂัಃ.
ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ, 2004
(2005ರ ಕකბಟಕ ಅඌඛಯಮ 30)ඝ౬,-
(1)
ಈ
ಅඌඛಯಮದ
ಅലಯยನ
ಅಪฃಧವඝ౬
೬ౢೕಯ
ಮൡ౨
೦෦ೕඝರತๅಂൿ ಪคಗಸฤ;
(2) ಆฑ..ಐ ನยನ ಎ ಎฯ ಸොಯย ಚბඈ ಎม ಪಥಮ ವತბನ
ವರൽಗಳඝ౬ เยೕನತัโದ౽ౙಜ ಮൡ౨ ಅඃ ಆฌೕඪತ ಅಥ฿ ಅඃ ಹಣ౽
౩ಯ เฆದ౫ ಒಂඃ ಪಕರಣವඝ౬ ർಖยโದඝ౬ ಉಪීඌಸฤ; ಮൡ౨
4
(3) ಈ ಅඌඛಯಮದ ಅലಯยನ ಅಪฃಧದವඝ౬ ຄರൡಪല ඈಡ ಪ౾෴
, 1973ರ ಅലಯย ෴ವ ಅඌเೈರൕಛಜ අೕฌೕඪಸมಜංೕ ಆ
ಅಪฃಧದ ಅඌเೈರൕಯඝ౬ ನഷಸฤ เ๕ಷ ක෴ಲಯಗัಡ ಅඌ౽ರವඝ౬
ඛೕಡฤ,
-ൟൿ౪ಪല ഴโൿ ಅವಶಕๅಂൿ ಪคಗං.
เಷಯโ ൡൡბಸ౷งಪർ౪ದ౪คಂದ ಮൡ౨ ಕකბಟಕ เඋನಡಲದ ಉಭಯ
ಸದನಗำ ಅඌๆಶನದย ಇಲൽൿ౪ದคಂದ, ෬ยನ ಉං౪ೕಶವඝ౬ ඌಸฤ ಕකბಟಕ
ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ (ൟൿ౪ಪല) ಅඋඃಶ, 2022ඝ౬
(2022ರ ಕකბಟಕ ಅඋඃಶ 01) ಪಌඪಸมಜൡ౨.
ಈ เඒಯಕโ ಅඋඃಶದ ಬದย เඒಯಕ฿ಜං.
ಪ൞ೕ೧ತ ๎ಸನ ರಚචಡ ීඌದ ೦ౢಪನ ಪತ
ಘಡ 2
2ඡ ಘಡದ ෩ಲಕ คಸฤ ಉං౪ೕ๏ฆವ 9ಎ ಪಕರಣದ (2)ඡ ಉಪ-
ಪಕರಣโ
ನ
ಅඌเೈರൕಯඝ౬
ಅತำโದಃౙ
ಆඦತರದย
ർಖมದ ಪಥಮ ವತბನ ವರൽಗಳඝ౬ ෮ದยನ ಪಕರಣඅಂൽಡ
เยೕನತัโದ౽ౙಜ ಟ ನ ತඛಒಯඝ౬ ಅತಳฤ ಒಬ౯
ಅඌ౽คಯඝ౬ ඡಮಕ ഴವ ಀคൡ ඛಯಮಗಳ ෩ಲಕ ඛಯ෦ಸฤ
ฃಜ ಸ౽ბರಃౙ ಅඌ౽ರವඝ౬ ඛೕഴತ౨ං.
ಪ౨เತ ๎ಸನ ರಚකඌ౽ರದ ಪ൞ೕಜච ฿ലಃಯ ಸ౷งಪർ౪ಜං.
§¸ÀªÀgÁd ¨ÉƪÀiÁä¬Ä
ªÀÄÄRåªÀÄAwæ
JA.PÉ. «±Á¯ÁQë
PÁAiÀÄðzÀ²ð
PÀ£ÁðlPÀ «zsÁ£À¸À¨sÉ
5
ಅඝීಧ
ಕකბಟಕ ಹಣ౽ ౩ಗಳย ഩವർರರ ൞ಸ౾౨ ರౘൕ ಅඌඛಯಮ,
2004ರ
(2005ರ ಕකბಟಕ ಅඌඛಯಮ ಒ 30) ಉದ౫ೃತ ූಗ
X X XX XX
10. เ๕ಷ ක෴ಲಯ.- (1) ಈ ಅඌඛಯಮದ ಉං౪ೕಶಗัಛಜ ಸ౽ბರโ
ಕකბಟಕ ಉಚ ක෴ಲಯದ ෨ಖ ක෴ඌೕಶರ ಸಹಮൟಡච ಅඌಚචಯ
෩ಲಕ ಅಂಥ ಪඃಶ౽ౙಜ ಅಥ฿ ಪඃಶಗัಛಜ ಅಥ฿ ಪಕರಣಗಳ ಅಂಥ ವಗბ౽ౙಜ
ಅಥ฿ ವಗბಗัಛಜ ೧ม ಮൡ౨ ಷඨ౺ ක෴ඌೕಶರ ದ೬ბಡ ಕല෫ಲದ ಒಬ౯ฆ
ක෴ඌೕಶರඝ౬ಳ ಒಂൿ ಅಥ฿ ກೋ เ๕ಷ ක෴ಲಯಗಳඝ౬ ರಸಬൿ.
ಪฏൡ, ෴โඃ ಹಣ౽ ౩ಡ ීඌದ ෮ಕದ౪෫ಗำ ಒಂದ౾ౙಂತ
ກೋ ೧วಗಳย ಹರലಆಂലದ౪ฉ, ಸ౽ბರโ ಕකბಟಕ ಉಚ ක෴ಲಯದ ෨ಖ
ක෴ඌೕಶರ ಸಮൟಂൽಡ ಅඌಚච ෩ಲಕ, ಅಂಥ ಹಣ౽ ౩ಡ คದ
ಅಂಥ ಎม ෮ಕದ౪෫ಗಳඝ౬ ಀคൡ ವವಹคಸฤ ೧วಯ ಒಂൿ ක෴ಲಯವඝ౬
ಅಥ฿ เ๕ಷ ක෴ಲಯ฿ಜ ಸತ ක෴ඌೕಶರඝ౬ ತൡ౨ಪലಸಬൿ.
(2) เ๕ಷ ක෴ಲಯದ ຄರ൞ಜ දഷඛ౺ ഞඨ ಗಳ ൽ฿ัತನ ಅඌඛಯಮ,
1909ರ (1909ರ ಅඌඛಯಮ 3) ಮൡ౨ ඩಂൟೕಯ ൽ฿ัತನ ಅඌඛಯಮ, 1920ರ (1920ರ
ಅඌඛಯಮ 5) ಅലಯย ರತ฿ದ ක෴ಲಯใ ಒಳತಂഽ ಇತರ ෴โඃ
ක෴ಲಯโ, ಈ ಅඌඛಯಮದ ಉಪීಧಗำ ಅನ౷ಯ฿ಞವ ෴โඃ เಷಯದ
ීಧದย ಅඌ౽ರ ฿ඪ౨ಯඝ౬ ຄಂൽರತಕౙದ౪ಲ.
(3) (1)ඡ ಉಪಪಕರಣದ ಅലಯย ຄರലದ ಅඌಚචಯ ൽකಂಕൽಂದ ಈ
ಅඌඛಯಮದ
ಉಪීಧಗำ
ಅನ౷ಯ฿ಞವ
෴โඃ
ක෴ಲಯದย
ಇತಥბದยฆವ
෴โඃ
෮ಕದ౪෫
เ๕ಷ
ක෴ಲಯಗัಡ
ವಛბತ฿ಗತಕౙൿ౪.
X X XX XX
6
KARNATAKA LEGISLATIVE ASSEMBLY
FIFTEENTH LEGISLATIVE ASSEMBLY
THIRTEENTH SESSION
THE KARNATAKA PROTECTION OF INTEREST OF DEPOSITORS IN
FINANCIAL ESTABLISHMENTS (AMENDMENT) BILL, 2022
(LA Bill No. 14 of 2022)
A Bill further to amend the Karnataka Protection of Interest of Depositors in
Financial Establishments Act, 2004.
Whereas it is expedient further to amend the Karnataka Protection of Interest
of Depositors in Financial Establishments Act, 2004 (Karnataka Act 30 of 2005) for
the purposes hereinafter appearing;
Be it enacted by the Karnataka State Legislature in the Seventy third year of
the Republic of India, as follows:-
1.
Short title and commencement.- (1) This Act may be called the
Karnataka Protection of Interest of Depositors in Financial Establishments
(Amendment) Act, 2022.
(2) It shall be deemed to have come into force with effect from 04th day of
May 2022.
2. Insertion of new Section 9A.- In the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004 (Karnataka Act 30 of 2005)
(hereinafter referred to as the principal Act), after section 9, the following section
shall be inserted, namely:-
“9A Cognizance of offence and power to club cases.- (1) Offence under
this Act are cognizable and Non bailable.
(2) Notwithstanding anything contained in any other law for time being in
force, if multiple First Information Reports are registered either in one Police station
or in various police stations of the District or Commissionerate or in various police
stations of the State against the same accused person or Financial Establishment
relating to fraudulent default, then such an officer as may be prescribed may order
7
for clubbing of subsequent registered First Information Reports into the earliest
case and order to carry on common investigation. Further the common Final Report
be filed under section 173 of Code of Criminal Procedure, 1973 before the Special
Court, within which jurisdiction the earliest First Information report was registered
and that Special Court or any other Special Court designated for trial of such
offence shall try the same.”
3. Amendment of Section 10.- In section 10 of the principal Act, after sub-
section (3), the following shall be inserted, namely:-
“(4) When trying an offence under this Act, the Special Court may also try an
offence, other than an offence under this Act, with which the accused may, under
the Code of Criminal Procedure, 1973, be charged at the same trial.”
4. Repeal and savings.- (1) The Karnataka Protection of Interest of
Depositors in Financial Establishments (Amendment) Ordinance, 2022 (Karnataka
Ordinance 01 of 2022) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under
the principal Act, as amended by the said Ordinance, shall be deemed to have been
done or taken under the principal Act, as amended by this Act.
8
STATEMENT OF OBJECTS AND REASONS
It is considered necessary to amend the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004 (Karnataka Act 30 of 2005) to,-
(1) treat offence under this Act as cognizable and non-bailable;
(2) provide for clubbing of all First Information Reports and a single case to
be filed against the same accused or the same financial establishment, as
discussed in the SLCC Meeting in the RBI; and
(3) empower the special courts to try an offence, other than offence under
this Act, with which the accused may under the Code of Criminal
Procedure, 1973 be charged at the same trial.
As the matter was urgent and both Houses of the State Legislature were not
in a session, the Karnataka Protection of Interest of Depositors in Financial
Establishments (Amendment) Ordinance, 2022 (Karnataka Ordinance 01 of 2022)
was promulgated to achieve the above object.
This Bill seeks to replace the said Ordinance.
Hence, the Bill.
FINANCIAL MEMORANDUM
There is no extra expenditure involved in the proposed legislative measure.
9
EXPLANATORY STATEMENT AS REQUIRED BY SUB-RULE (1) OF RULE 80 OF
THE RULES OF PROCEDURE AND CONDUCT OF BUSINESS IN THE
KARNATAKA LEGISLATIVE ASSEMBLY.
It is considered necessary to amend the Karnataka Protection of Interest of
Depositors in Financial Establishments Act, 2004 (Karnataka Act 30 of 2005) to,-
(1) treat offence under this Act as cognizable and non-bailable;
(2) provide for clubbing of all First Information Reports and a single case to
be filed against the same accused or the same financial establishment, as
discussed in the SLCC Meeting in the RBI; and
(3) empower the special courts to try an offence, other than offence under
this Act, with which the accused may under the Code of Criminal Procedure,
1973 be charged at the same trial.
As the matter was urgent and both Houses of the State Legislature were not
in a session, the Karnataka Protection of Interest of Depositors in Financial
Establishments (Amendment) Ordinance, 2022 (Karnataka Ordinance 01 of 2022)
was promulgated to achieve the above object.
This Bill seeks to replace the said Ordinance.
MEMORANDUM REGARDING DELEGATED LEGISLATION
Clause 2
Sub-section (2) of section (9A) proposed to be inserted in
clause 2 empowers the State Government to prescribe by
rules, regarding appointment of an officer for clubbing of
subsequent registered First Information Reports into the
earliest case and order to carry on common investigation
The proposed delegation of Legislative power is normal in character.
BASAVARAJ BOMMAI
Chief Minister
M.K. VISHALAKSHI
Secretary
Karnataka Legislative Assembly
10
ANNEXURE
EXTRACT FROM THE KARNATAKA PROTECTION OF INTEREST OF
DEPOSITORS IN FINANCIAL ESTABLISHMENTS ACT, 2004
(KARNATAKA ACT NO 30 OF 2005)
XX
XX
XX
10. Special Court.- (1) For the purposes of this Act, the Government may, with the
concurrence of the Chief Justice of the High Court of Karnataka, by notification,
constitute one or more Special Court consisting of a single judge not below the rank
of a District and Sessions Judge for such area or areas or for such class or classes
of cases.
Provided that, if the Government is of the opinion that where cases pertaining
to any financial establishment are spread over more than one District, the
Government may, with concurrence of the Chief Justice of the High Court of
Karnataka, by notification designate one Court of District or Sessions Judge as
special Court to deal with all such cases pertaining to such financial establishment.
(2) No Court including the Court constituted under the Presidency Towns
Insolvency Act, 1909 [Act 3 of 1909] and the Provincial Insolvency Act, 1920, [Act
5 of 1920] other than the Special Court shall have jurisdiction in respect of any
matter to which the provisions of this Act is invoked.
(3) Any pending case in any other court in respect of which the provisions of
this Act is invoked, shall stand transferred to the Designated Courts from the date
of notification issued under sub-section (1).
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XX
XX
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R.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19
Licensed to post without prepayment WPP No. 297
SUNIL GARDE
Digitally signed by SUNIL GARDE
Date: 2022.09.14 17:40:00 +05'30'