(1)

Ļ¯ೇಷ ªಾಜÍ ಪĦΐೆ

GOVERNMENT OF KARNATAKA

NO: E-RD 27 GRC 2024 Karnataka Government Secretariat,

M. S. Building,

Bengaluru, Dated: 04.03.2024

NOTIFICATION

Whereas, upon considering the investigation report submitted to Government by

Director General of Police, Criminal Investigation Department (CID), Special Units

and Economic Offences, Carlton House, Palace Road, Bengaluru, with respect

to Crime No. 143/2019, Dated: 30-10-2019 registered at Nelamangala Town Police

Station regarding M/s Yellow Express Logistics Limited Company, fraudulent

case, the Government has issued provisional attachment notifications under sub

section (3) of Section 7 of the Banning of Unregulated Deposit Schemes Act, 2019

(Central Act 21 of 2019) by attaching the movable and immovable properties belonging

to the said fraudulent company vide Government Notifications 1) No. RD

19 GRC 2019, Dated: 19-11-2020 and 2) No. RD 19 GRC 2019, Dated: 31-10-2022,

corrigendum dated: 22-12-2022 for the said notification.

Accordingly, Assistant Commissioner, Doddaballapura Sub-Division and Assistant

Competent

Authority

under

BUDS

Act

has

filed

the

petition

vide

Misc./06/2021 before the designated court, i.e., Hon’ble Principal District

and Sessions Judge, Bengaluru Rural seeking the provisional attachment

notification dated: 19-11-2020 to be made absolute under section 14(1) of Banning of

Unregulated Deposit Schemes Act, 2019 (Central Act 21 of 2019), and he has also

filed an Interim appeal no.I, requesting Hon’ble Court to pass order expeditiously for

sale of depreciable movable assets provisionally attached to realise maximum value

without allowing such assets to lose their value, under the provisions of BUDS act.

¨sÁUÀ – 3

Part – III

, 04

, 2024(

, 14,

, 1945)

BENGALURU, MONDAY, 04, MARCH, 2024(PHALGUNA , 14, SHAKAVARSHA, 1945)

. 155

No. 155

2

After

hearing

Hon’ble

Court

rejected

Interim

appeal

no.I,

vide order

dated: 20-12-2021.

Meanwhile, Special Court/designated court was established exclusive for the trail

of civil cases filed under KPID and BUDS cases, i.e., Hon’ble XCI Addl. City Civil

and Sessions Judge, Bengaluru (CCH-92) vide Government Notifications

No.LAW-LCE/52/2021, Dated: 10-06-2021, and Dated: 09-11-2021 accordingly, the

said case was shifted to Special Court on 08-02-2022. Assistant Commissioner,

Doddaballapura Sub-Division and Assistant Competent Authority under BUDS Act,

has

filed

the

petition

vide

Misc.

No.263/2022

before

the

designated

court, i.e., Hon’ble XCI Additional City Civil and Sessions Judge, Bengaluru seeking

the provisional attachment notification dated: 19-11-2020 to be made absolute under

section 14(1) of Banning of Unregulated Deposit Schemes Act, 2019 (Central Act 21

of 2019). After hearing, Hon’ble Court rejected the petition filed by assistant

competent authority as the same is not maintainable vide order dated: 17-08-2022.

Hence in view of the above, in order to protect the interest of the depositors and

to take further action in the case under the provisions of KPIDFE Act 2004, the

provisional attachment Government Notifications 1) No. RD 19 GRC 2019,

Dated: 19-11-2020 and 2) No. RD 19 GRC 2019, Dated: 31-10-2022 and corrigendum

22-12-2022 issued under the BUDS Act 2019 in respect of M/s Yellow Express

Logistics Limited Company fraudulent case are withdrawn with immediate effect.

By Order and in the name of the

Governor of Karnataka

(Anwar Basha)

Deputy Secretary to Government,

Revenue Department (Services-1,

SSLR & Special Cell)

[

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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

THAMMAIAH

Digitally signed by THAMMAIAH

DN: c=IN, st=Karnataka,

2.5.4.20=be54f34f4e31eae50203ca7fab5ceb3794f20a8460a2582ef28294d43b8f8b16, postalCode=560059,

street=BANGALORE, pseudonym=ca58c76cf7e2445d7a4f3f51407e025e,

serialNumber=4d9b284dcc53d39f1425f50485de07dd86efa302a3fce3729eddea0c1b5098e0,

ou=GOVERNMENT OF KARNATAKA, o=GOVERNMENT OF KARNATAKA, cn=THAMMAIAH

Date: 2024.03.05 14:57:13 +05'30'