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GOVERNMENT OF KARNATAKA

No. FD-CAM/52/2025(P-2) Karnataka Government Secretariat,

401, 4th gate, M. S. Building,

Bengaluru, Date: 27.08.2026.

NOTIFICATION

Whereas the draft of the Karnataka Protection of Interest of Depositors in

Financial Establishments Rules, 2026 was published as required in sub section

(1) of section 21 of the Karnataka Protection of Interest of Depositors in Financial

Establishments Act, 2004 (Karnataka Act 30 of 2005) in notification No. FD-

CAM/52/2025(P-2), Bengaluru dated: 22.07.2026, in Part IV A No. 560 of the

Karnataka Gazette Extra-ordinary dated: 24.07.2026, inviting objections or

suggestions from all the persons likely to be affected thereby within fifteen days

from the date of its publication in the Official Gazette.

And whereas, the said Gazette was made available to the public on

24.07.2026;

And whereas no objections and suggestions were received by the

Government in respect of the said draft within the period specified above.

Now, therefore, in exercise of the powers conferred by sub section (1) of

section 21 of the Karnataka Protection of Interest of Depositors in Financial

Establishments Act, 2004 (Karnataka Act 30 of 2005), the Government of

Karnataka, hereby makes the following rules, namely: -

RULES

1. Title and commencement. - (1) These rules may be called the Karnataka

Protection of Interest of Depositors in Financial Establishments Rules, 2026.

(2) They shall come into force from the date of their publication in the

Official Gazette.

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Part – IVA

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, 2026 (¨sÁzÀæ¥ÀzÀ 07,

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BENGALURU, SATURDAY, 29 AUGUST, 2026 ( BHADRAPADA 07, SHAKAVARSHA, 1948)

. 778

No. 778

2. Definitions.- (1) In these rules, unless the context otherwise requires.-

(a) “Act” means the Karnataka Protection of Interest of Depositors in

Financial Establishments Act, 2004 (Karnataka Act 30 of 2005):

(b) “Aadhaar number” shall have the same meaning as assigned to it in

clause (a) of section 2 of the Aadhaar (Targeted Delivery of Financial and

other Subsidies, Benefits and Services) Act, 2016 (Central Act No.18 of

2016):

section 5 of the Negotiable Instruments Act, 1881 (Central Act No. 26 of

1881):

(d) “Form” means a form appended to these rules:

(e) “Good Faith” shall have the same meaning as assigned to it in sub-

section (11) of section 2 of the Bharatiya Nyaya Sanhita 2023 (Central

Act No. 45 of 2023):

(f) “KYC” means “Know Your Customer” within the meaning of the

Reserve Bank of India’s KYC Directions (2016):

(g) “Liquidated Demand” shall have the same meaning as in Order 37

rule 2(b) of the Code of Civil Procedure, 1908 (Central Act No. 05 of

1908):

(h) “Negotiable Instrument” shall have the same meaning as assigned to

it in section 13 of the Negotiable Instruments Act, 1881 (Central Act

No. 26 of 1881):

(i) “Nodal Officer” means an officer notified by the Government as nodal

officer under sub-section (1) of section 3.

(j) “Officially Valid Document” (OVD) shall have the same meaning as

assigned to it in the Para 3 (a)(xii) of the Reserve Bank of India KYC

Directions, 2016:

(k) “Permanent Account Number (PAN Card)” means a Permanent

Account Number document issued by the Income Tax Department

under the provisions of the Income tax Act, 2025 (Central Act No. 30 of

2025):

(l) “Promissory Note” shall have the same meaning as assigned to it in

Section 4 of the Negotiable Instruments Act, 1881 (Central Act No. 26

of 1881):

(m)

“Secured Creditor” shall have the same meaning as assigned to it

in sub-section (30) of section 3 of the Insolvency and Bankruptcy Code,

2016 (Central Act No. 31 of 2016): and

(n) “Section” means the section of the Act.

(o) “Schedule” means the schedule appended to these Rules.

(2) All other words and expressions used in these rules but not defined,

shall have the same meaning as respectively assigned to them in relevant laws

and the Karnataka General Clauses Act, 1899 (Karnataka Act III of 1899)

3. Ad-interim order and examination of the complainant and

witnesses.- (1) A Nodal Officer notified by the Government for the purposes of

enforcing the provisions of the Act, who shall have all powers to receive

complaints on matters falling under the Act, collect market intelligence, or take

the assistance of District Magistrates within their jurisdictions or their

functionaries, to investigate or cause to be investigated, any fraudulent

transaction or complaint and report or cause to be reported to the Government

in the Form 1(A) for Nodal Officer or in Form 1(B) for District Magistrate or

in Form 1(C) for the Police Officer concerned, the result of such inquiry and carry

out all actions of the Competent Authority himself or through officers appointed to

assist him not below the rank of Assistant Commissioner, till such time as a

Competent Authority is appointed under sub-section (1) of section 5:

Provided that, the District Magistrate within his jurisdiction may, on receipt

of any information or complaint, or any report from the Police Authorities of the

District, have the same enquired into, and under intimation to the Nodal Officer,

report the same to Government.

Provided further that, the Police Authorities or Investigation Agencies at

District level shall report any complaint received along with a report on investigation

thereof, to the District Magistrate for forwarding to the Government.

Provided also that, the Investigation Authorities at the State level shall make

report of any such investigation to the Government under intimation to the Nodal

Officer.

Provided also that, such reports shall be made to the Government in Form 1(A)

by the Nodal Officer, and Form 1(B) by the District Magistrate after framing the

following issues for inquiry, namely:-

(i)

Verification of complaints and grievances received and information

gathered;

(ii)

Details of the Financial Establishment;

(iii)

Nature of activities and permissions and regulatory compliance thereon

from competent regulatory authorities and reports of other regulatory

authorities on such activities;

(iv)

Financial Schemes, programs, related public activities, related

promotional activities, and other businesses and public activities;

(v)

Ownership of properties movable and immovable and record of

permissions and documentary proof and registrations of the same

and likely value of the same; and

(vi)

Sources of income and Income Tax returns filed, financial position

and Annual Reports, Audited Accounts as well as Minutes of Board

meetings etc, as required after issuing notices and summons:

Provided that, the Police Authorities shall make report in Form 1(C)

based on the investigation conducted and on subsequent progress as and when

required.

(2)

A Nodal Officer may issue process for discovery and inspection,

enforce the attendance of any person, including the officer of a reporting entity,

issue notice or summons to compel production of a document or record, receive

evidence on affidavits and issue commissions for,-

(a) examination of a person;

(b) make local investigation;

(d) hold a scientific or technical or expert investigation;

(e) conduct the spot auction of seized perishable goods prone to decay or

(f) carry out any ministerial actions with respect to any matter under

inquiry.

Note: For the said purposes, the said officer shall use Forms 2(A), 2(B), 2(C),

2(D), 3(A), 3(B), 3(C), 3(D), 3(E), 4, 5(A), 5(B), 5(C), 5(D) and 5(E) as the case may

be.

(3)

On receiving a report on any publications or advertisements

promoting a fraudulent scheme or soliciting deposits for such scheme under

inquiry or investigation under the Act or these rules, the Government or the Nodal

Officer may, after issuing notice to the owner of any newspaper or other publication

of any nature either in print or in electronic form to provide information about

the agency or person funding the advertisement or publication, and after affording

an opportunity to the owner or other publication, make an order to publish a full

and fair retraction, unequivocally withdrawing any offer, promotion or inducement

made earlier in any advertisement, statement or information to any person to

become a member of any fraudulent scheme. The retraction shall be published free

of cost within two days from the date of the direction of the appropriate

Government. In addition, the Government or a Nodal Officer may, if the retraction

is not carried out, or is felt to be inadequate, in the interest of protecting gullible

investors, order seizure of all copies of the said publication through the District

Magistrate and make a complaint to the Central Consumer Protection Authority

under section 19 of the Consumer Protection Act, 2019 (Central Act No. 35 of 2019).

(4)

A copy of the order of provisional attachment and an order issued by the

Competent Authority in Form 6 shall be served on the owner of the property, or

any person who claims to be in possession of the property or any other person who

has an interest in the said property through some legally valid document and shall

be published in a leading newspaper (both in vernacular and in English) having

wide circulation in the area all such persons shall be deemed to be served the

order by such publication.

(5)

The Competent Authority appointed under sub-section (1) of section

5 or if such authority is yet to be appointed, the District Magistrate on the orders

of the Nodal Officer shall take possession of the immoveable property by affixing

the order of provisional attachment at a conspicuous place of such immoveable

property.

(6)

Where the property to be attached is a moveable property, the

Competent Authority or if such authority is yet to be appointed, the jurisdictional

Assistant Commissioner, on orders of Nodal Officer shall take actual physical

possession of such property and retain it in his custody.

(7)

The Competent Authority or the officer duly authorised by the Nodal

Officer shall maintain a record of the property provisionally attached which shall

include details of any expenditure incurred or any costs of management of the

property and of any income received from the property from any legal

arrangement already in force and shall not himself deploy the assets in any kind

of commercial activity nor renew any commercial contract.

(8)

Upon the receipt of the orders of the Government under sub-section

(2) of section 3, the Competent Authority may examine the complainant and other

affected depositors and such other persons connected with the Financial

Establishment accused of fraudulent deposit taking and examination shall be

reduced in writing or otherwise recorded. The Competent Authority may also

issue summons for production of documents and records and examine them and

obtain reports from the Police Authorities investigating the case in order to assess

the assets and the liabilities of the financial establishment and prepare a complete

record of depositors from whom the deposit taker has collected deposits. The

Competent Authority may also assign an approved valuer to value the property

under ad interim attachment and assign an approved forensic auditor to trace the

money trail from depositors.

(9)

When an ad-interim order attaching the money or other property of

Financial Establishment is made by the Government under section 3, such money

or property referred to in the order shall not be transferred to any other persons

by any mode whatsoever and if any such transfer is made, it shall be null and void.

As a result of the property having vested in the Competent Authority subject to

orders of the Special Court, he shall cause to enter in the relevant part of the

property record, a right to that effect and the concerned authorities in charge of

property records shall comply:

Provided that, the Competent Authority or if any such authority is yet to be

appointed, a Nodal Officer may make such order including order of debit freeze on

any bank account under intimation to the bank to provide transaction records and

KYC records.

4. Powers to freeze or seize property.- Where the Competent Authority

is satisfied or has reason to believe that any property which is liable to be attached

under the Act is likely to be concealed, transferred or dealt with in any manner which

will result in defeating the purpose of the Act, it may make an order seizing such

property or where it is not practicable to seize such property make an order that

such property shall not be transferred or otherwise disposed of or dealt with,

except with prior permission of the Special Court:

Provided that, the Competent Authority or if any such authority is yet to be

appointed, the Nodal Officer may make such order including order of debit freeze

on any bank account under intimation to the bank to provide transaction records

and KYC records.

5. Procedure to be adopted for entry into premises for inspection, search

and seizure.- (1) If the Competent Authority or a Nodal Officer or District

Magistrate wishes to search any premises other than residential premises to carry

out the purposes of the Act and these rules, he shall issue an order in Form 6(A)

and serve the same on the adult occupant representing the owner as present on the

said premises, and also cause a copy to be pasted at a prominent place on the

premises. For the purposes of these rules the said authority may seek such

cooperation of jurisdictional revenue and police authorities as deemed fit. As far as

practicable such search shall be conducted between 6 AM and 6 PM and if any

physical searches of persons have to be conducted, they shall be done by police

authorities present in accordance with law and procedure. The said authority shall

carry for the purposes of such search and seizure, portable light sources,

measuring tools and tapes, sturdy locks and keys, photographic and videographic

devices, official seal and sealing wax and registers for recording search and seizure

proceedings. All records inspected and or seized shall be meticulously recorded in an

inventory in Form 6(B), a copy of which shall be served to the person present after

he or she signs thereon. All seizures shall be conducted in the presence of at least

two panchas and a Panchnama shall be drawn up in Form 6(C).

(2) A possession order shall be made in case of immoveable property in

Form 6(D) and a copy of the same shall be served upon the occupants and

persons having legal interest or rights in the property.

(3) The entire search and seizure shall be recorded by audio-video device as

required under section 105 of the Bharatiya Nagarika Suraksha Sanhita, 2023

(Central Act 46 of 2023):

Provided that, if any residential accommodation needs to be searched, the

Competent Authority shall submit an application to the Magistrate having jurisdiction

over the area in the Form 2(E) for issue of warrant and if issued, shall follow the

procedure in this Rule.

6. Appointment of and procedure adopted by Competent Authority.-

(1) The Government shall as far as possible, appoint officers of the Revenue

Department as Competent Authority and such Competent Authority shall carry

out his duties in addition to his regular duties. Where cases pertaining to a

financial establishment are spread across more than one district or beyond the

State, a Nodal Officer shall be assigned all such cases as Competent Authority and

such establishment and staff along with financial allocation as may be required to

effectively handle such cases.

(2) The Nodal Officer shall carry out the duties of the Competent Authority

till such Authority is appointed by the Government by notification

(3) If the Competent Authority, due to circumstances beyond his control is

unable to apply to the Special Court within thirty days of the order of ad interim

attachment, he shall, after recording the reasons in writing, apply to the Principal

Secretary to Government, Revenue Department for extension of the period not

exceeding thirty days and the Principal Secretary to Government may for valid

reasons to be recorded in writing, as soon as possible, allow the same. In each

such case allowed by the Principal Secretary, the Competent Authority shall

ensure that the application to make attachment absolute is filed before the Special

Court within the extended period and recording reasons for the extension. If for

reasons beyond his control, the Competent Authority fails to file the application

within the extended period, he shall make an appeal for further extension before

the Special Court with an affidavit verifying the compelling circumstances and

take action as per orders of the Special Court.

(4) All applications and appeals made under this Act by the Competent

Authority shall first be scrutinized and verified by the Nodal Officer.

7. Execution of duties and exercise of powers by the Competent

Authority.- (1) The Competent Authority shall as expeditiously as possible, obtain

all reports, records, notifications, and follow procedures under the Act and these

Rules to obtain all necessary documents, databases etc. from the financial

establishments and those depositors or informants who come forward with

actionable information and file the information in an accessible manner both as

physical documents and as electronic records

(2)

The Competent Authority shall open Bank Accounts for purposes of the

Act, with the approval of the Nodal Officer including an absolute account into

which all moneys accruing due to liquidation of or securities on or rents from

seized properties of the Financial Establishment, made absolute by the Special

Court shall be remitted. Further, the Competent Authority shall take into custody,

all documents, assets and properties through due process and issue possession

notice/certificate in Form 7(A) for immoveable properties, in

Form 7(B) for

moveable properties and in Form 7(C) for documents and reports etc. The

Competent Authority shall as expeditiously as possible, register or secure absolute

title to the assets from the competent jurisdictional authority based on the order

of the Special Court under sub-section (2) of section 5 of the Act and take absolute

possession of the same and remit the realised value and all moneys received to

the absolute account including any interest earned thereon and no moneys shall be

disbursed therefrom except as ordered by the Special Court.

(3) The Competent Authority shall, with the approval of the Nodal Officer

and following due process of law, appoint appropriate approved or empanelled

valuers and agencies to assist in realising value of property and prepare valuation

report for properties under ad interim seizure, appoint Forensic Auditors and

where required, Data Forensics Experts to prepare forensic audit report and trace

money trail of the deposits as early as possible, not exceeding six weeks.

(4) The Competent Authority shall, with the approval of Nodal Officer

appoint suitable legal practitioner and chartered accountant and any other

technical experts for purposes of investigation, tracing of money trail, seizure and

liquidation of assets of the Financial Establishment.

(5) The Competent Authority on appointment shall also conduct detailed

Investigation based on records and documents obtained from,-

(i) Investigating Officer of the State Government or other investigating agency

as the case may be,-

(a)

a status report on the properties identified which are liable for

attachment under the Act, along with documents if any;

(b)

a copy of the report of any charge sheet, arrest, search or seizure

submitted to the Special Court;

(c)

names and details of accused persons who have been arrested and

who have obtained bail; and

(d)

details in confidence about any informants, whistleblowers or

approvers who may provide actionable intelligence

(ii) Where a case is booked by the Enforcement Directorate, a copy of the

Provisional Attachment Order issued, confirmation order of the

Adjudicating Authority, Prosecution Complaint filed by the Investigation

Officer etc., whichever is available.

(iii) Information regarding the assets of the financial establishment based on

ITR (Income Tax Returns), Forms filed by them or search and seizure

carried out on them.

(iv) Regulatory Authorities with whom the financial establishment is

registered including Registrar of Companies, Registrar of Societies,

Registrar of Cooperatives, Labour Department, Commercial Tax etc.

(v) Records of registrations of all transactions in immoveable property or

instruments or as requested by the Competent Authority from Stamps and

Registration Department

(vi) Land records and mutation records, succession certificate, encumbrance

or family tree as sought from Revenue Department and khata records as

sought from Local Bodies.

(vii)

Records of licenses and registration of vehicles where available as sought

from competent authorities such as Road Transport Officer etc

(viii)

Records of bank account holders, including e-KYC, Payee – Beneficiary

Record and account opening application.

(ix) Records of building plan approval from concerned authorities

8. Powers to manage, dispose and discharge Marketable Securities.-

(1)

If there are any type of marketable securities attached under the ad-

interim attachment notification, the Competent Authority, with the approval of the Nodal

Officer shall open a demat account in any public sector bank preferably within seven days

but not exceeding fifteen days of publication of the notification and intimate the ad-interim

attachment notification to the appropriate authority or company holding the securities to

not transfer them subject to orders of the Special Court.

(2) The Competent Authority shall file petition under sub-section (2) of section

5 before the Special Court for making the transmission of the marketable securities

to the Competent Authority absolute as required under section 56 of the

Companies Act 2013 (Central Act No. 18 of 2013) and upon the orders of the Special

Court shall issue an order in Form 7(D), to the holder of the marketable securities or

appropriate authority to transfer the marketable securities through the demat

account and proceed to fully discharge them as expeditiously as possible and

realise the value to the absolute account.

(3) The Competent Authority shall maintain transaction records of the

marketable securities and demat account for the reconciliation of securities.

9. Power to sell or transfer property of the Financial Establishment.-

(1) The Competent Authority may with the permission of the Special Court sell the

moveable and immoveable assets taken possession in one or more lots by adopting

any of the following methods to secure maximum sale price for the assets, to be

so sold,-

(a) obtaining quotations from parties dealing in the secured assets or

otherwise interested in buying such assets; or

(b) inviting tenders from the public; or

(d) by private treaty.

(2) The authorised officer shall issue a notice of a minimum of seven days

for sale of the movable assets if the aggregate value put to sale is less than rupees

fifty lakhs and a minimum of thirty days if the aggregate value is more than fifty

lakhs, in Form 7(E), to be published in two leading newspapers, including one in

vernacular language having wide circulation in the locality with,

(a) complete description of movable secured assets to be sold with

identification marks or numbers, if any, on them;

(b) reserve price of the movable assets, if any, and the time and manner

of payment;

private treaty as the case may be;

(d) deposit of earnest money as may be stipulated;

(e) the place and date for inspection of the goods and pre-bid meet for

clarifications if any;

(f) any other terms or conditions which the authorised officer considers it

necessary for a purchaser to know the nature and value of movable assets.

(3) If the auction is successful, the Competent Authority shall upon

remission of fifteen percent of the bid value for moveable assets and twenty five

percent of the bid value for immoveable assets, issue a sale confirmation advice

to the successful bidder in Form 7(G), with suitable terms and conditions regarding

remission of balance confirmed sale amount, which in the case of moveable assets

shall not be more than fifteen days and in the case of immoveable assets shall not be

more than thirty days:

Provided that, if the successful bidder, within seven days of the sale

confirmation advice seeks further time due to acceptable reasons adduced in writing,

the Competent Authority may, with approval of the Nodal Officer allow a period not

exceeding fifteen days.

Provided further that, if the successful bidder fails to remit the full amount

within the time allotted or the extended time given, the Competent Authority shall

issue a notice of confiscation in Form 7(G)(i) in lieu of payment of the balance

along with a penalty of five percent of the value for every day of delay beyond the

stipulated day and if the penalty exceeds fifty percent of value, proceed to issue a

confiscation order in Form 7(G)(ii), confiscating the earnest money and deposit

already made.

Provided also that, if sale by public auction or e-auction is not successful, or

if the assets are of such exclusive nature or restricted use, that the Competent

Authority subject to approval of the Nodal Officer believes that sale by public

auction would fail or be vitiated by cartels, or a Government authority is interested

to acquire the assets for public purposes at a price above the reserve price

including the encumbrances and unpaid dues thereon, an application with reasons

for such belief shall be made by the Competent Authority to the Special Court and

subject to the orders of the court, the assets may be disposed of either by obtaining

sealed quotations within a specified period to be notified and or by private treaty

with such conditions, in writing between the Competent Authority and the

purchaser as given hereinafter:

Provided also that, in case of sale by quotation or by private treaty, the

Competent Authority shall publish the same in two local newspapers and on the

web-site of the Nodal Officer, in Form 7(J), with detailed terms and conditions of

the sale of the movable assets which shall include:-

(a) complete description of movable secured assets to be sold with identification

marks or numbers, if any, on them;

(b) reserve price of the movable assets, if any, and the time and manner of

payment;

(c)

time and place of public auction or e-auction or sale by quotations or private

treaty as the case may be;

(d) deposit of earnest money as may be stipulated;

(e) the place and date for inspection of the goods and pre-bid meet for

clarifications if any; and

(f)

any other terms or conditions which the Special Court or the Competent

Authority considers necessary.

(4) On remission of sale price and its receipt into the absolute account of

the Competent Authority, the Authority shall issue a certificate of sale in the

prescribed Form 7(H), specifying the assets sold, price paid and the name of the

purchaser and thereafter the sale shall become absolute. The certificate of sale so

issued shall be prima facie evidence of title of the purchaser. The Competent Authority

shall take necessary action expeditiously to transfer the title and assets to the

purchaser and obtain acknowledgement in Form 7(I).

(5) Where the Competent Authority is satisfied that seized goods are

perishable and prone to rapid decay or they become outdated very fast, or may

require special arrangements and additional costs for their preservation, storage

and maintenance or are hazardous, these goods may be disposed of immediately

after seizure by the Competent Authority, after applying in Form 7(F) and

obtaining orders of the Special Court, and subject to the orders, by issuing a notice

for spot auction mentioning details of the goods for sale and the reserve price

calculated based on the extent of decay or obsolescence, on "as is where is" basis

with such other conditions as the Competent Authority may impose:

Provided that, the Competent Authority may, in an emergency, conduct spot

auction of the perishable or hazardous goods for reasons to be recorded in writing

and submit to the Special Court for ratification as soon as possible.

10. Disbursal from Absolute Account in Accordance with Special Court

Order.- (1) The Competent Authority shall make payments to claimants called for

and duly verified under the procedure prescribed in sub-section (2) of section 7 and

approved by the Special Court after following the procedure hereunder; namely:-

(a) The Competent Authority shall intimate to all claimants approved for

payments, the brief procedure of payments through a messaging service

and a public notification

(b) The Competent Authority with approval of a Nodal Officer shall issue an

order of ""penny drop"" to a public sector bank for confirmation of the

bank accounts of the approved beneficiaries and upon the receipt of the

confirmed accounts, proceed to pay the approved amount by NEFT or

RTGS to such accounts

unconfirmed or blocked or changed accounts for necessary corrections and

documents.

11. Procedure to be followed to call for claims.- (1) The Competent

Authority shall as expeditiously as possible and not exceeding sixty days from the

order of appointment under sub-section (1) of section 5 or notification under sub-

section (2) of section 3, whichever is later, submit a report of assessment of the

deposit liabilities and assets of the Financial Establishment to the Special Court in

Form 8(A).

(2) The Competent Authority shall after submitting a report in the Special

Court under sub-section (1) of Section 7, publish a notice in the public media in

English and vernacular language as applicable across the State and if required

in any other State and also publish the same on the website of the Competent

Authority and in social media in the Form 8(B), inviting claims with proper proof

to establish the same by secured creditors and depositors, in Forms 8(B2), and

8[B2(ii)] for secured creditors and Forms 8(B1) and 8[B1(ii)] by depositors along

with necessary officially valid documents; namely:-

(a) Original and attested copy of Aadhaar card including Aadhaar number

and PAN Card

(b) Original and attested copy of the Bond/ Memorandum of

Understanding/ Security Document / Deposit Contract or Certificate

/ Share Certificate / Pass Book issued by the Financial Establishment.

Establishment for the entire relevant period, duly attested by the

concerned bank Manager.

(d) KYC details of the Bank Account of the Claimant and a copy of facing

sheet of the pass book

(e) Copies of Income Tax Returns filed for the entire period of transactions

with the Financial Establishment if any

(f) Affidavit in Form 8(C), duly notarised, swearing that the claimant is not

a Director or Promoter or Agent or Employee or otherwise a collaborator

in the activities of the Financial Establishment

(g) Certified copy of a judicial decree or order proving the claim:

Provided that, original shall mean a document which may be treated as

primary evidence as understood under section 62 of the Bharathiya Sakshya

Adhiniyama, 2023 (Central Act No 47 of 2023), and shall be of the same size,

shape, colour and material as the original and shall not be a scan printed or

masked as original.

Provided further that, attested copy shall mean a legible replica made on paper

by a photocopier or scanner but not a mobile or camera without masking any part

of the original document and shall not have any other impression other than that

found on the original document and attested by a gazetted officer or notary public

as a true copy, and a certified copy shall mean copy of a public document by

photocopier or scanner certified as true by the authorised custodian of the original

document.

(3) Notice for Claim Submission by Secured Creditors and Depositors -

(i)

In case claim or demand by successor upon death of depositor, proper

proof to be adduced in a claim would constitute the following:-

(a) where the depositor claimant has specified a nominee in the

deposit document, the claim will be paid to the nominee or

successor on verification of his or her identity proof through an

officially valid document, a copy of the deposit certificate or Bond or

Agreement or Share Certificate as the case may be, including the

record of nomination issued by the Financial Establishment, a

Survivorship Certificate or Family Tree as issued by the jurisdictional

Tahsildar and proof of death of depositor from competent authority.

(b) where the claimant is not specified as a nominee in the Deposit

Certificate or Security, the claim will be paid to the legal heirs (or any

one of them as mandated by all of the legal heirs) on verification of

(1) proof of death of depositor or secured creditor i.e. copy of death

certificate issued by the competent authority,

(2) Survivorship Certificate or Family Tree as issued by jurisdictional

Tahsildar

(3) Photograph and KYC of,-

(a) all legal heirs; and

(b) Affidavit of declaration by claimant in Form 9(A)

(4) Letter of Indemnity (duly stamped) in Form 9(B).

(ii)

In cases where loans are taken on security of any assets or property

of value, retained with the Financial Establishment, and such loanees

claim return of the said assets, the balance loan payable shall be

valued by the Competent Authority and on return of the same with or

without interest thereon, as per directions of the Special Court, the

asset or property may be returned after verification of ownership and

/ or title and in case of death of such claimant, the procedure in rule

11(3)(i) shall be followed.

(iii) In cases where the depositor or claimant is a Non-Resident Indian,

who is not able to come India to execute formalities, he or she may,-

(a) execute the documents in the country of residence, in the presence

of officials of any foreign office of an Indian Bank and submit the

same through an authorised representative; or

(b) execute the documents in the presence of Indian Embassy officials

in the country of residence and where necessary, submit

the

document to the Stamps and Registration authorities for payment of

stamp duty as per rules in India; or

representative in India, duly attested by the Indian Embassy officials

in the country of residence and submit all documents through such

POA holder or successor.

(iv)

In case of death of a Non Resident depositor or claimant, the death

certificate which is attested or certified by any of the following shall

be accepted by the Competent Authority for processing the claim -

(a) Notary Public in the country where death has occurred or

(b) Indian Embassy or High Commission in the country where death

has occurred

occurred, stationed in India

(v)

The assets of the deceased NRI depositor or claimant should be settled

to the successors or legal heirs as per the Personal Law of succession

(Hindu, Muslim, Christian or any other community) applicable to the

depositor. This shall be irrespective of whether the claimant happens to

be a resident Indian, NRI (Non Resident Indian), PIO (Person of Indian

Origin) or a foreign national:

Provided that, if any Indian court order or legal representation is obtained, the

proceeds should be settled as ordered by the Court or legal representation if it is

a Succession Certificate or Certificate of Inheritance or Letter of Administration

and in the case of a foreign court order, ancillary orders or resealing shall be

obtained from a competent Indian Court under section 228 of the Indian Succession

Act, 1925 (Central Act No 39 of 1925) Further, any Will within the meaning of sub-

section (h) of section 2 of the Indian Succession Act, 1925 (Central Act No 39 of

1925) shall be acceptable only when probated by a competent court in India and a

Will probated by a foreign court shall be accepted only if Letter of Administration is

issued by a competent court in India:

Provided further that, foreign nationals shall not be accepted as sureties while

obtaining Letter of Indemnity as they are not governed by Indian law.

Provided also that, claims or deposits denominated in foreign currency shall

be valued in Indian currency at the exchange rate as on date of deposit or claim, as

the case may be.

(vi)

In case the depositor is missing or untraceable and the claim is made

by a successor or nominee, the settlement of claims in respect of

such missing persons would be governed by the provisions of section

110 or 111 of the Bharatiya Sakshya Adhiniyam, 2023(Central Act No 47

of 2023).

(a)

Where declaration by competent court is produced, the Competent

Authority shall consider the claim for settlement after following

the procedure laid down in Rule 11(3) (i) (a) and

(b)

where a person is missing for the last seven years and moreover,

where declaration or certificate from competent court is not

produced, the Competent Authority shall consider the claim for

settlement on receipt of,-

(i) copy of FIR filed with the jurisdictional police, final report

issued by police authority stating that the persons is not

traceable; and

(ii) Letter of Indemnity along with two sureties before the

jurisdictional Tahsildar for the value of the amount settled.

12. Report by Competent Authority.- (1) The Competent Authority shall

within thirty days from the last date of the receipt of the claims, digitise the data

provided by the claimant in Forms 8(B1), 8(B1)(i), 8(B2), 8(B2)(i) and 8(C) as the

case may be, into the format approved by the Nodal Officer and verify and assess

on the basis of proper proof as laid down in sub-section (2) of section 7 and in

rule 11 hereunder, every claim , following a four stage process, firstly, by verification

of identity and address of the claimant based on officially valid documents attached,

secondly, by matching of the personal particulars of the depositors from the

depositors’ database seized from the Financial Establishment, where available, with

the particulars received in the claim applications and computing the correct claim

amount, thirdly, by verifying the entries in the acceptable documents of proof of

claims attached with the entries in the claim form and finally, by verifying the

claimed amount against depositors’ database where available.

(2) The Competent Authority, if necessary, shall call for additional

documents of proof from the claimants and any institution or person if required

within fifteen days, and prepare a list of depositors containing their names,

contact details, KYC, along with data on the amounts deposited to the account of

the Financial Establishment, received from the account of the Financial

Establishment, treating the interest payments as principal repaid. Further, the

Competent Authority shall record in the said list, the amount claimed and the

amount admissible as claim for disbursal.

(3) All finalised claims shall be reported to the Special Court and published

on the website of the Nodal Officer and maintained as permanent record if

approved by the Special Court:

Provided that, where the amount claimed is not precise due to any contingency

or other reason, the Competent Authority shall make the best estimate of the

amount of the claim based on the information available with him.

Provided further that, the said Authority may require any creditor or the

Financial Establishment or any other person to produce any other document or

evidence which he thinks necessary for the purpose of verifying the whole or any

part of any claim and if such verification requires a revision, the said Authority

shall revise the amounts of claims admitted, including the estimates of claims as

soon as may be practicable, particularly when he comes across additional

information warranting such revision

Provided also that, if the claims have already been reported to the Special Court

and orders obtained thereon, the Competent Authority shall report the revised claims

with reasons for such revision, to the Special Court and seek modified orders subject

to which, revision shall be made in the permanent

record and all physical documents related to the claims shall be made permanent

record of the office of the said Authority as per procedure laid down in the

Karnataka State Public Records Act, 2010 (Karnataka Act 09 of 2011)and rules made

thereunder.

(4) A comprehensive report as provided in Section 8 shall be made by the

Competent Authority and verified and approved by the Nodal Officer and submitted

to the Special Court within sixty days of finalizing the claims based on,-

(a) seizure reports made by the Investigating Officer of the Investigating

Agency;

(b) amounts received out of liquidation of all seized properties and assets;

intelligence on money trail therefrom;

(d) report of authorised appointed Valuers on all seized properties yet to be

liquidated;

(e) assessment of any amounts receivable by;

(i) procedures filed under malafide transfers as provided in section 13

and

(ii) liquidation of assets reported by informants under section 21A

(f) assessment of any amounts receivable from seized assets which are sub-

judice or amounts payable due to additional delayed claims which are

sub-judice; and

(g) including details of the assessment and verification process, a statement

on the total number of claims received, number of claims admitted and

the number of claims rejected or partially allowed along with reasons

for the same, and thereby, the total amount of claim amount proposed

to be disbursed and the amount available or which is likely to be available

from the realization of the attached assets. The report shall also include

a plea to permit the disbursal of approved claimed amounts where

available, proportionally

according

to principles of equitable

distribution.

13. Procedure for Competent Authority in Summary Suits under Order

37 of Code of Civil Procedure 1908.- (1) Where documents such as a bill of

exchange, hundis, and promissory notes and suits in which the Competent

Authority as plaintiff seeks only to recover a debt or liquidated demand in money

payable by the defendant, with or without interest, arising out of a written contract;

or with respect to an enactment as in sub-section (5) of section 12 or sub-section

(2) of section 13, where the sum sought to be recovered is a fixed sum of money

or like a debt other than a penalty; or on a guarantee, where the claim is in

respect of a debt or liquidated demand, and all such

matters where there is need for expeditious hearing and disposal of the suit to

prevent unreasonable obstruction by the defendant or likelihood of frivolous and

vexatious defence, or the defendant is likely to defeat the socially beneficial

purpose of the Act by deliberate evasive actions or where malafide transfers have

taken place as provided under section 13, the Competent Authority may file a

summary suit for recovery in the Special Court.

(2) The Competent Authority as plaintiff while litigating a summary suit

shall ensure the following, namely:-

(i)

The suit shall contain all the necessary details of the claim, including

the nature of the claim, the exact amount claimed, and the grounds for

the claim;

(ii)

The plaintiff must provide a particular averment that the complaint is

being filed following Order 37 of the Code of Civil Procedure, 1908

(Central Act No 05 of 1908);

(iii)

The summary suit under Order 37 of the Code of Civil Procedure,

1908(Central Act No 05 of 1908) shall be filed within the period

as provided in the Limitation Act, 1963(Central Act No 36 of 1963);

(iv)

The plaintiff must serve upon the defendant at the address provided

by him, a notice to appear in court along with a copy of the plaint; and

(v)

If the defendant sends to the plaintiff a notification of presence or appears

in court, the plaintiff shall then issue a summons for judgement in Form

4A in Appendix B of the Code of Civil Procedure, 1908(Central Act No 05

of 1908) on the defendant containing inter alia an affidavit certifying

the basis of action and the sum claimed and indicating that there is no

defence to the suit in the plaintiff's opinion.

14. Procedure for attachments of properties of malafide transferees-

(1) Where the Competent Authority while filing a report under section 8 or otherwise,

is satisfied that the amount of assessed and verified claim exceeds the realisable value

of seized assets, the Authority shall collect market intelligence and have the money

trail of deposits re-examined by an approved Forensic Auditor or Digital Forensics

expert and re-visit all actionable intelligence provided by informants or whistle

blowers under section 21A and identify all transfers of assets and property of value

which for reasons to be specified, the Competent Authority believes to be malafide

transfers because, -

(i)

the transfer is made within the relevant period or after the legal

processes against the Financial Establishment have begun;

(ii)

the transfer is not made or believed to be not carried out with due

care, prudence and attention required in the ordinary course of the

business of the Financial Establishment or of its Directors, promoters,

agents, employees or other connected persons;

(iii)

the transfer is not made for proper consideration as determined by

the market value of the property as computed from the records of

relatively recent similar transactions in the general vicinity of the

property available with the jurisdictional Sub-Registrar;

(iv)

the transfer is made by a gift or bill of exchange or hundi or as an

unsecured loan or through a promissory note for improper consideration

or is an undervalued transaction;

(v)

the transfer is made in violation of provisions under sections 269SS,

269ST and / or 269T of the Income Tax Act, 1961(Central Act No 43 of

1961) {or provisions under sections 269, 270 & or 271 of the Income Tax

Act, 2025 (Central Act 30 of 2025) } or relevant provision as and when

amended;

(vi)

the transaction leading to the transfer is deliberately entered into with

the objective of depriving the depositors or results in the unjust

enrichment of a few depositors to the deprivation of a majority of

depositors;

(vii)

the transaction leading to the transfer is against the interest of the

deprived depositors in relation to their claims or results in their

continued deprivation due to claims made by the same persons on

certain accounts who have already received unjust enrichment on

other accounts;

(viii)

the transfer is made by a Director, Promoter, Office Bearer,

Accountant, Agent or Partner of the Financial Establishment or former

directors, partners, promoters who have demitted or resigned from

establishment provided their liability is limited to the period of office

and their actions are afflicted by any of the aspects in clauses

(i) to (vii) above; and

(ix)

the transferee being a Director, Promoter, Office Bearer, Accountant,

Agent or Partner of the Financial Establishment or former directors,

partners, promoters who have demitted or resigned

from

establishment provided their liability is limited to the period of office

or such persons who have colluded with the Financial Establishment

by receiving unjust enrichment thereby keeping assets of the

Financial Establishment beyond the reach of those deprived

depositors entitled to make claims on such assets.

(2) In such cases, the Competent Authority shall collect the details and issue

an order of debit freeze or freeze on further transactions as provided in rule 4.

(3) Thereafter, the Competent Authority shall proceed to file a summary suit

for recovery and attachment with an affidavit in the Special Court as per

procedure in rule 13.

15. Security in lieu of attachment.- At any time after an order of

attachment under sub-section (2) of section 3, and before the order making the ad

interim attachment absolute is passed by the Special Court, if any person

aggrieved by such ad-interim attachment applies to the Special Court to set aside the

attachment by providing security in lieu of the property attached:

provided that, such application shall not be admissible if the subject property

falls under section 13 and is believed to be a malafide transfer or if the applicant is

believed to be a malafide transferee, the Special Court shall,-

(a)

issue notice to the Competent Authority providing an opportunity of being

heard and to file any objection on such security.

(b)

order for the valuation report of such property or security by an

approved valuer.

(c)

after considering the objections of the Competent Authority and the

valuation report mentioned in clause (b), pass suitable orders and if such

order is to accept the security in lieu of the property under attachment, the

money value of the security shall be ordered to be deposited to the

absolute account of the competent authority, subject to further orders

of the special court

16. Procedure for administration of property attached - Where the

Competent Authority believes that, any subject property has occupants with legal

arrangement or agreement for consideration enforceable by law or where such

property is being utilized for public services, financial services, any socially beneficial

service or commercial service and such activities or services if terminated abruptly

would affect public interest in general or the interest of any claimants, or cause unjust

loss to legally secured occupants, the Competent Authority shall file an application

stating the reasons why such property should be administered under the control of

the authority so that the interests of depositors are not adversely affected and at

the same time the legal arrangement is not abruptly disrupted or the public are not

abruptly deprived of the service. Based on the orders of the Special Court the

Competent Authority shall take all necessary steps for the continuation of

administration from the date of such order till liquidation of the property attached,

subject to the following; namely:-

(1)

The activities and services shall be maintained at the bare minimum

and for the minimum period only subject to the orders of the Special

Court and provided such services and activities do not amount to any

violation of any law for the time being in force.

(2)

Administration within the meaning of section 15 shall mean and include

management and control over the personnel, finances, bank accounts, and

maintenance of facilities and assets as per the law for time being in

force.

(3)

The Competent authority may propose as Administrator, any suitable

serving government officer not below the rank of Sheristedar

depending on the value of the asset, or a suitable and competent

contract employee of the office of the Nodal Officer who has

experience in such activities.

(4)

While approving an administrator for any such property, the Special Court

shall on the application of the Competent Authority or other authority, as

the case may be, also approve the costs including office expenses,

conveyance expenses, maintenance, upkeep and security expenses, legal

expenses and remunerations as required in addition to the reasonable

operating costs and any sums providing for maintenance and legal

expenses for the interested person and his family or any business

interest not falling under section 13 or discharge of any liability that the

Special Court may, after giving an opportunity to the Competent Authority,

approve, and make just and reasonable order, out of the proceeds of the

attached property:

Provided, that such sums in total shall not exceed the proceeds accruing

from the attached property and the balance shall be remitted to the absolute

account of the Competent Authority at such intervals as the Special Court may

approve.

17. Competent Authority to assist Special Public Prosecutor- The

Competent Authority and Nodal Officer shall render all such assistance to the

Special Public Prosecutor in conducting the cases in the Special Court, as may

be required:

Provided that, such assistance shall be limited to legal research, clerical and

ministerial assistance, logistics support and payments of legal expenses and fees with

respect to the cases dealt with by the Competent Authorities and expeditious approval

of all petitions, statement of objections, processes before the Special Court and

prompt appearance in the Court as and when required and all expenses shall be

borne by the office of the Nodal Officer subject to financial provision by the

Government.

18. Repeal and Savings- (1) The Karnataka Protection of Interest of

Depositors in Financial Establishment Rules,2006 are hereby repealed:

Provided that, such repeal shall not affect;-

(a) the previous operation of the said rules or anything duly done or

suffered there under or

(b) affect any right, liability or obligation acquired, accrued or incurred

under the said rules.

(2) Any reference in any rule or order to the said rules repealed by sub-rule

(1) shall be construed as a reference to these rules.

By Order and in the name of

the Governor of Karnataka,

Dr. Vishal R

Secretary to the Government(I/c),

Finance Department

(Fiscal Reforms)

Schedule

(See Rule 2 (o) )

LIST OF FORMS

Sl.

No.

Form No.

Rule reference

Title / purpose of form

Form 1(A)

Rule 3(1)

Report of Nodal Officer

Form 1(B)

Rule 3(1)

Report of District Magistrate

Form 1(C)

Rule 3(1) and

Section 3(1)

Report of Police Authorities

Form 2(A)

Rule 3(2)

Summons to Person to Attend Enquiry in Person

Form 2(B)

Rule 3(2)

Proclamation Requiring Attendance of Person for

Enquiry

Form 2(C)

Rule 3(2)

Interrogatories

Form 2(D)

Rule 3(2)

Answer to Interrogatories

Form 2(E)

Rule 5(3)

Application / petition seeking a search warrant

for residential accommodation

Form 3(A)

Rule 3(2)

Order for Affidavit as to Documents

Form 3(B)

Rule 3(2)

Affidavit as to Documents

Form 3(C)

Rule 3(2)

Order to Produce Documents for Inspection

Form 3(D)

Rule 3(2)

Notice to Produce Documents

Form 3(E)

Rule 3(2)

Notice to Produce (General Form)

Form 4

Rule 3(2)

Affidavit of Assets to be Made by Accused /

Person Complained Against

Form 5(A)

Rule 3(2)

Commission to Examine Person or Witness

Form 5(B)

Rule 3(2)

Commission for a Local Investigation, or to

Examine Accounts

Form 5(C)

Rules 3(2)

and 7(2)

Summons for Appearance and Production of

Documents under Section 3(1a) read with Section

6(2)(c) to Banks and NBFCs

Form 5(D)

Rules 3(2)

and 7(2)

Summons for Appearance and Production of

Documents under Section 3(1a) read with Section

6(2)(c) to Promoters, Directors, Employees,

Agents, etc., of the Financial Establishment

Form 5(E)

Rules 3(2)

and 7(2)

Summons for Appearance and Production of

Documents under Section 3(1a) read with Section

6(2)(c) to Beneficiaries of Suspect / Mala Fide

Transactions with the Financial Establishment

Form 6

Rule 3(4)

Ad-interim Order of Attachment

Form 6(A)

Rules 5(1)

Order for entry, inspection, search, and seizure.

Form 6(B)

Rule 5(1)

Inventory

Form 6(C)

Rule 5(1)

Panchnama

Form 6(D)

Rule 5(2)_

Possession order (for immovable Property)

Sl.

No.

Form No.

Rule reference

Title / purpose of form

Form 7(A)

Rule 7(2)

Possession Certificate for Immovable Assets

Form 7(B)

Rule 7(2)

Possession Certificate for Movable Assets

Form 7(C)

Rule 7(2)

Possession Certificate for Documents and

Records

Form 7(D)

Rule 8(2)

Order of Transfer of Marketable Securities

Form 7(E)

Rule 9(4)

Format of Notice of Sale by Auction under Section

6(2)(f)

Form 7(F)

Rule 9(5)

Application for Disposal of Perishable Goods

Form 7(G)

Rule 9(3)

Sale Confirmation Advice

Form 7(G)(i)

Rule 9(3)

Notice of Penalty and Confiscation of Deposit

Form 7(G)(ii)

Rule 9(3)

Order of Confiscation of Deposit

Form 7(H)

Rule 9(4)

Certificate of Sale

Form 7(I)(i)

Rule 9(4)

Acknowledgement for Receipt of Title Deeds

Form 7(I)(ii)

Rule 9(4)

Acknowledgement for Receipt of Moveable Goods

Form 7(J)

Rule 9(5)

Notice for Sale by Private Treaty

Form 8(A)

Rule 11(1)

Report of Competent Authority under Section

7(1) of the Act

Form 8(B)

Rule 11(2)

Public Notice inviting claims under Section 7(2)

of the Act

Form 8(B1)

Rule 11(2)

Claim Application Form under Section 7(2) of the

KPIDFE Act

Form 8[B1(i)]

Rule 11(2)

Statement of Investment

Form 8(B2)

Rule 11(2)

Proof of Claim by Secured Creditors

Form 8[B2(i)]

Rule 11(2)

Statement of Credit and Valuation of Security

Form 8(C)

Rule 11(2)

Affidavit to be Filed with Claim

Form 9(A)

Rule 11(3)(i)(b)

Declaration by Claimant Who Is Not the Depositor

Form 9(B)

Rule 11(3)(i)(b)

Letter of Indemnity

Form 1(A)

[See rule 3(1)]

Report of Nodal Officer

Office of

1. Case Number:

1A. Complaint Number:

1B. Complainant / Witness Name:

1C. Address:

1D. Contact:

1E. Nature of Complaint:

2. Market Intelligence Report:

(a) Report of media and internet resources: Including but not restricted to

media publications, advertisements whether in print or electronic media

or both, inducing another person to invest in, or become a member or

participant of any scheme, social media, surveys and polls.

(b) Complaints and grievances submitted: Complaints in writing or oral,

submitted manually or online or through social media messages,

representations from legal counsel or associations authorised by

complainants in writing a(er confirming identity of the complainant and

examining necessary documents for proof.

ownership,

directors,

partners,

promoters,

agents,

employees,

subsidiaries etc.

(i) Nature of activities and permissions and regulatory compliance thereon

from competent regulatory authorities and reports of other regulatory

authorities on such activities

(ii) Financial

Schemes,

programs,

public

activities,

promotional activities, and other businesses and public activities

whether genuine or merely on record

(iii) Ownership of properties movable and immovable and record of

permissions and documentary proof and registrations of the same and

likely value of the same

(iv) Sources of income and Income Tax returns filed, financial position and

Annual Reports, Audited Accounts as well as Minutes of Board

meetings. If the FE is a regulated entity, report from the said

Regulating Authority should be obtained.

(v) Pending complaints or violations of any law on any aspect of the FE

or its office bearers with any other regulatory authorities like Consumer

Forum, Police, Tax authorities, Revenue Authorities,

Cooperative Department, Municipal authorities and actions taken on

past complaints.

3. Report of District Magistrate [If any, based on Form 1(b)]: Shall contain

a market intelligence report as indicated in (c) above and report of any other

authority to whom the task is delegated.

3A. Any other reports submitted on behalf of District Magistrate or by any

authority to whom task is delegated by Government directly or through Nodal

Officer.

4. Report of Police Authorities [if any based on Form 1(c)]

4A. FIR No:

4B. Police Station:

4C. IO Name:

4D. Sections of law invoked:

4E. Properties seized (if any) with likely value:

4F. Number of Depositors affected:

4G. Value of deposits:

4H. List of accused with names, age and address:

4I. Accused – Arrested / Charged / Released on Bail / Convicted (with

dates thereof):

4J. Charge Sheet filed date and persons charged:

4K. Additional Report of Police Authorities: If B Report or C Report is filed

or on the progress of investigation and trial

5. Details of Financial Establishment

Financial Establishment complained against:

Year established:

Registration:

Directors / Partners / Agents / Promoters:

Activities and Schemes with permissions from competent authority for each activity

/ Scheme:

Depositors:

Amount Deposited:

Properties acquired / owned by FE and its Directors & Partners:

Persons connected to FE with Name, Designation and Contact:

6. Details of accounts where debit freeze is ordered as provided under Rule 5:

Bank

Owner

Bank

Type

of Date

Amount

Account

Number

Name

with KYC

and

Branch

Account:

Current /

order

debit freeze

with

Code

Savings /

Term

Deposit

u/rule 5

7. Details of Properties to be Attached u/s 3(2) of the Act with justification:

Procedure: List of the properties being ad-interim attached, its approximate

value, title documents etc., along with relevant findings on the ‘Specific Issues’

for each of the various categories of the properties as follows:

(1) Whether property is acquired out of depositors’ funds: Period during which

property is acquired or agreement is entered into for acquisition, coinciding with

the period of the fraudulent scheme excluding inherited properties but not gifts.

(2) In case of the available assets created out of the depositors’ funds being

insufficient to meet the liabilities:

(i). Personal asset of promoter, partner, director, manager, member or any other

person associated with the Financial Establishment based on:

(a) The records showing the person as the office bearer, or

(b) The evidences showing his clandestine role as a person associated with

the business affairs of the Financial Establishment and he being its

beneficiary.

to show either flow of funds from the main person for the purchase of the

property or other person not having reliable own source of income to

purchase the property and the other person being a family member of the

main person.

(3)

Evidence of the economic status and income of the person accused before the start

of fraudulent activities from Income Tax Returns

(4)

Evidence of the legitimate business income of the FE other than financial

activities and the costs of the establishment from Audited Accounts and Tax

Returns

I. Movable Properties:

Note: Categories of Movables:

A. Cash – Liquid Cash / Cash kept in Bank Accounts

B. Goods

1. Vehicles

2. Furniture, fittings and fixtures

3. Electronic Goods

4. Electrical Goods, Accessories and Fittings

5. Computation Devices and Accessories

6. Precious Metals/ Precious Stones and Jewellery

7. Machinery & Equipment

8. Arts, Artefacts and Handicrafts

9. Other (To be specified)

C. Shares / Securities / Bonds / Debentures / Insurance

D. Intangibles like Goodwill / Copyright / Patent

E. Licensed digital content like Software / Applications

F. Virtual Digital Assets / Currency secured by cryptography

A. Cash Format

Type of

Cash

(Liquid or

Currency

Amount

(in Rs)

Type

Account:

Current

Location

seizure

KYC

Cash in

Savings

/ (if cash)

Bank)

Term

Deposit

(if

Bank

Account)

B. Goods Format

Category of

Goods

Item

Name

Condition Likely

Value

Location

seizure

Whether

having

License

other

Document of

Ownership

C. Shares / Securities / Bonds / Debentures / Insurance Format

Category of

Instrument

(Share /

Bond /

Debenture

etc)

Secured

or not

Certificate

Number

Issued

Company,

with

address

Name,

Folio

Number,

Number

and Types

the

Instrument

held

Purchase

Value

D. Intangibles like Goodwill / Copyright / Patent Format

Category

Instrument /

(Copyright

Patent etc)

Registration

and License

Number of

Registration

and License

Patent

Number

Issued

Office

Indian

Patent

Office

Date

Registration

/ Issue

Period

Patent

E. Licensed digital content like Software / Applications Format

Type of

Digital

Content

(Licensed

Software

Application

Company

License

Number

& Date

issue

Period of

License

Purchase

Value

Expiry date

F. Virtual Digital Assets / Currency secured by cryptography Format

Sl No

Type of Digital

Currency like

Bitcoin / Tether /

Ethereum /

Cardano / WazirX /

XRP

Issued

traded in Crypto

exchange

Price (in

Rs)

Wallet

to ID

User

(Password

masked)

II. Immoveable Properties

Note:

A. Land (other than agricultural lands, plantations, forests, mines and

quarries)

B. Agricultural lands other than Commercial Crop Plantations

C. Plantations and Private Forests

D. Mines & Quarries

E. Buildings

A. Lands (Non Agricultural)

Extent

Khata

Number

Owner

Location &

Boundaries

Zone

Acquisition

Document /

Sale Deed &

Guidance

Value

Purchase

Value

Name

Registration,

with date

B. Agricultural lands

Extent

Survey

Number

Location Acquisition

Document /

Irrigation

& Crops

Guidance

Value

Purchase

Value

Owner

Sale Deed &

Registration,

grown

Name

with date

C. Plantations and Private Forests

Extent

Survey

Location Acquisition

Commercial

Guidance

Purchase

Number

Document /

Sale Deed &

Crop /

Trees

Value

Owner

Name

Registration,

with date

Grown

D. Mines & Quarries

Extent

Survey

Number

Owner

Name

Location Acquisition

Document /

Sale Deed &

Registration,

with date

Mining /

License &

Lease

Lessee

Minerals

mined

with

annual

quantity

Purchase

Value

E. Buildings

Type

of FAR

Use

Acquisition

Khata /

Facilities

Purchase

Building

Document /

Sale Deed &

Swattu

Value

Registration,

with date

List of the properties being ad-interim attached, its approximate value, title

documents etc., along with relevant findings on the ‘Specific Issues’ for each of

the various categories of the properties as follows:

i. Property acquired out of depositors’ funds: The relevant bank account used for

the payment of money to the vendor and at least few transactions showing the

payment of depositors’ funds to the said Bank Account. Alternatively, the

Form 2(A)

[See rule 3(2)]

Summons to Person to Attend Enquiry in Person

Office of

WHEREAS

your

attendance

required

…………….........................................................................

......................................................................................................................

in the above inquiry under provisions of the Karnataka Protection of Interests

of Depositors Act 2004 and Rules 2006, you are hereby required personally to

appear before this Authority or before the Commission appointed by this

Authority on the .............................. day of

…................................

20……….., at .............................. AM / PM,

If you fail to comply with this order without lawful excuse, you will be subject to

the consequences of non attendance laid down in rule 12 of Order XVI of the

Code of Civil Procedure, 1908.

GIVEN under my hand and the seal, this

…..................................

day of

................. 20 ......

(Name &Designation of

Authority)

NOTE—(1) If you are summoned only to produce a document and not to give

evidence, you shall be deemed to have complied with the summons if you cause

such document to be produced before this authority on the day and hour

aforesaid in the format specified.

FORM-2E

[See proviso to rule 5(3)]

Application / petition seeking a search warrant for residential accommodation

IN THE COURT

, AT BENGALURU (CCH - 92)

NO.

Office of

MOST RESPECTFULLY SHOWETH:

1. It is submitted that, the Competent Authority is a duly constituted

authority appointed by the Government of Karnataka in exercise of its

powers under section 5(1) of the Karnataka Protection of Interest of

Depositors in Financial Establishments Act 2004 (hereinafter referred as

‘KPIDFE Act’ for short), as per its notification bearing No.

dated

. A copy of the appointment notification is

herewith produced and marked as ANNEXURE – A.

2. That the Competent Authority has strong reason to believe that certain

unlawful activities/ evidence/ items (explain the irregularities and the

necessity for entering the premises)

are

present

the

residential accommodation located at

3. That the said residential accommodation is not a place of business cum

residence, and is purely being used as a residence.

4. That despite repeated attempts, the residents have denied access to the

petitioner and/or concerned authorities to inspect the premises.

5. That under section 4(2) of the Act, the competent authority is entitled to seek

the issuance of a search warrant for conducting a search in the

aforementioned premises.

6. That granting such a search warrant is in the interest of justice, and necessary

to obtain crucial evidence/investigate in the interest of

protection of

depositor’s interest.

PRAYER

In view of the foregoing, the Competent Authority most humbly prays before

this Hon’ble Court to:

a) Issue a search warrant authorizing the Competent Authority to enter and search

the residential accommodation located at

b) Pass any such other orders as deemed fit and necessary in the interest of justice.

Place:

Date:

Competent Authority

Form 3(B)

[See rule 3(2)]

AFFIDAVIT AS TO DOCUMENTS

Office of

Case Number:

Complaint Number:

Financial Establishment complained/ reported against:

I, the above-named

, make oath and say

as follows:

1. I have in my possession or power the documents relating to the matters in

question in this suit set forth in the first and second parts of the first schedule

hereto.

2. I object to produce the said documents set forth in the second part of the first

schedule hereto [stale grounds of objection.]

3. I have had but have not now, in my possession or power the documents

relating to the matters in question in this suit set forth in the second schedule

hereto.

4. The last-mentioned documents were last in my possession or power on. [State

when and what has become of them and in whose possession they now are.]

5. According to the best of my knowledge, information and belief I have not now,

and never had, in my possession, custody or power, or in the possession, custody

or power of my pleader or agent, or in the possession, custody or power of any

other person on my behalf, any account, book of account, voucher, receipt, letter,

memorandum, paper or writing, or any copy of or extract from any such

document, or any other documents whatsoever, relating to the matters in

question in this suit or any of them, or wherein any entry has been made relative

to such matters or any of them, other than and except the documents set forth

in the said first and second schedules hereto.

Sworn before me, etc.

Date:

Name & Signature

Case Number:

Form 3(E)

[See rule 3(2)]

NOTICE TO PRODUCE (GENERAL FORM)

Office of

Complaint Number:

Financial Establishment complained/ reported against:

Take notice that you are hereby required to produce and show to this Authority,

within

days of receipt of this notice with reference to

the above complaint / case, all books, papers, letters, copies of letters and other

writings and documents in your custody, possession or power, containing any

entry, memorandum or minute relating to the matters in question, any property

held by you by way of purchase, lease, inheritance, gift, mortgage, or any agreement,

registered or otherwise, any shares, debentures or other financial instruments, any

deposits, borrowings, grants, contributions in cash or kind, any moveable

properties of purchase value exceeding Rs. 5,000 (five thousand), any copyrights

or patents along with documents thereof, any virtual digital assets / currency

secured by cryptography, licensed so(ware or web application, with user

Identification and passwords thereof, any bank accounts, fixed deposits, credit

cards, debit cards, whether individual or joint or held on behalf of a body

corporate, with eKYC details and pass book or other document thereof, with a

category wise list of the items and the value of each at the time of procurement,

the date of procurement and documentary proof of procurement.

Take notice that you shall file the above statement in the form of an affidavit as

prescribed.

Date:

(Name &Designation of Authority)

To:

Form 4

[See rule 3(2)]

AFFIDAVIT OF ASSETS TO BE MADE BY Accused / Person Complained Against

In the Office of ___________________________________________________

1. My full name is ........................................................................................... (Block Capitals)

1A.

address

1B. My age is

1C. My Aadhaar

number is

1D. My PAN Card number is

1E. My Mobile Number is

2A. My father’s name is

and he is resident of

2B. My mother’s name is

and she is resident of

3A.

married

single/

widower

(widow)

divorced

Name of Spouse:

(If married or divorced or

widower or widow ) Address :

3B. The following persons are dependent upon me:

Serial

number

Name

Age

Relationship

Address

4. I am educated up to

(Literate / SSLC / PUC /

Degree / Post Graduate)

5. My employment, trade or profession is/ was that of carried on by me at

and I am/ was a director / promoter / agent /

employee of the following companies / cooperatives / firms / financial

establishments / trusts / organizations:

Serial

number

Establishment /

Organization

Address Designation From

Gross Pay

/ Allowance

/ Salary

6. My present annual/ monthly/ weekly income, after paying income-tax, from

all sources are as follows:—

(a) From my employment, trade or profession Rs.

(b) From other sources (Specify) Rs.

6A. I live in owned / rented house; its value is Rs.

I pay as outgoings by way of rates, mortgage, interest, etc., the annual sum of

Rs.

(b) I pay as rent the annual sum of Rs.

8. I possess the following:—

(a) Banking accounts and cash and fixed deposits;

(b) Credit Card / Debit Card

(d) Life and other insurance policies

(e) Investments in mutual funds

(f) Building property; Give particulars

(g) Other immovable property

(h) Other securities;

(i) Tradeable digital tokens / media / currency secured by cryptography

(j) Software or web applications

(k) Copyrights or patents

(l) Movable Property: (i) Gold and other precious metals, Jewellery, Precious

Stones

(ii) Automobiles and crafts (for movement over land, water or air, mechanised

or non-mechanized)

(iii) Furniture, Fittings and Fixtures

(iv) Electronic Goods and Fittings

(v) Electrical Goods

(vi) Computational devices and accessories

(vii) Arts and artefacts

(viii) Unused Clothing

(ix) Unused utensils and containers

(x) Machinery and Equipment

(xi) Accessories and luxury goods

9. The following debts are due to me:

A. Secured:

Amount

Principal

From

Date of

Due

Security

Document

Rate

Return

B. Unsecured

Amount

Principal

From

Date of

Due

Unsecured

Document

Rate

Return

10. My secured creditors are

Amount

Principal

From

Date of

Due

Security

Document

Rate

Return

11. I am a signatory to the following contracts and agreements:

Nature &

Purpose of

Contract

Value

With

From

Registration

Document

Amount

Due

12. I have attached all relevant documentary proof and records along with true

copies of the documents as in the list given below:

Sworn before me, etc.

Date:

Name and Signature

Form 5(C)

[See rule 3(2) and 7(2)]

(Summons for Appearance and Production of Documents under Section

3(1a) R/w 6(2)(c) to Banks and NBFCs)

Office of

Dated:

Whereas a complaint has been received against

representing a Financial Establishment for taking deposits and or default and

/ or registered against the financial entity

and its Directors /

Promoters / Agents / Employees

in Crime No.

for

commission of the offences punishable under Section

of BNS, Section

of the Prize Chits and Money Circulation Schemes (Banning) Act 1978,

Section

of Chit Fund Act, 1982. and Section 9 the Karnataka Protection of

Interest of Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of

2005) .

And whereas, by virtue of appointment of this office by Government of

Karnataka as the Competent Authority for the said financial establishment

under Section 5(1) of the Karnataka Protection of Interest of Depositors in

Financial Establishment Act, 2004 (Karnataka Act 30 of 2005), vide notification

No.

issued by the Government of Karnataka and under section 5(1A),

notifying the undersigned as the Officer to assist the Competent Authority in

discharge of its functions under the Act vide Notification No.

And whereas, vide Section 3 of the Karnataka Protection of Interest of

Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005), this

authority is empowered to suo moto or based on the market intelligence reports

or Police Authority on receipt of any complaint, to investigate or cause

investigation of a complaint or fraudulent transaction through its functionaries,

collect the information regarding the properties and money believed to have

been acquired by any financial establishment, from public or organizations or

other institutions as deemed appropriate.

And whereas the Reserve Bank of India has issued “SOP for information sharing

with Law Enforcement Agencies and Intelligence Agencies as updated on

30.05.2024”.

You are hereby summoned to appear before the undersigned on the day of

20 at

to produce following information with regard to the

below stated Bank Accounts and Branches of your Bank:

A) Information Regarding:

I. Name of the Bank:

II. Bank Account Number and/or Name of the Bank Account Holder:

III. Whether Lien/Freeze to be marked:

IV. In case of Lien, the amount for which Lien to be marked: V. Section(s)/Act(s)

under which notice issued:

VI. Name, contact number, email id of the investigating/intelligence

officer:

VII. Address (email/physical) on which information is expected to be

received: B) Additional Information (Optional):

I. Name and IFSC of the Branch:

II. Details of the Transaction:

III. Date/Period of the Transaction:

C) Required Information”

(I) Digital:

(i) e-Statements of accounts

(ii) Transaction details

(iii) Net banking logs

(iv) Credit Card and Debit Card Logs,

(II) Physical:

(i) KYC: including (a) Name (b) Photo (c) Address (d) Mobile Number (e) PAN (f)

Last 4 digits of UID or Aadhaar Number.

(ii) Account Opening Forms

(iii) Statement of Accounts and Payee

- Beneficiary details for each of the

transactions in the Bank statements.

Note: The information on payee beneficiary details may be provided under the

following categories:

A. Debit side information;

a. Details of NEFT/RTGS beneficiaries bank accounts and their names;

b. Details of cheque beneficiaries bank accounts and their names;

c. Details of Cash transactions with the names of the beneficiaries;

d. Details of electronic bulk transfer beneficiaries.

B. Credit side information:

a. Details of cheque remitters bank account and names;

b. Details of NEFT/RTGS remitters bank accounts and names;

c. Total Cash deposits details.

C. Account-wise and Year-wise summary of above categories to be

also provided. (iv) Loan Applications, Sanction Letters, Loan

Form 5(D)

[See rule 3(2) and 7(2)]

[Summons for Appearance and Production of Documents under Section 3(1a)

R/w 6(2)(c) to Promoters, Directors, Employees Agents etc., of the Financial

Establishment]

1. Whereas a complaint has been registered under various provisions of the IPC

as well as section 9 of Karnataka Protection of interest of depositors in financial

Establishment Act 2004against the Financial entity

(name of the financial

entity) and against yourself, being Chief Promoter/ MD/ director /president

/former director, partner, promotor / other person connected with

affairs of the said Financial Establishment, for un-authorized collection

deposits from the public and for default in returns of the principal amount as well as

assured returns thereon.

2. Whereas, by virtue of appointment of this office by Government of Karnataka

as the Competent Authority for the above-mentioned Financial establishment

under section 5(1) of the Karnataka Protection of Interest of Depositors in

Financial Establishment Act, 2004 (Karnataka Act 30 of 2005), vide GO:

Dated:

3. Whereas, the Competent Authority has been conferred the powers of a Civil

Special Court under section 3(1a) of the the Karnataka Protection of Interest of

Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005) as

regards enforcing the attendance of any person for examining him on oath and

for compelling the production of records etc.

4. Therefore, you are hereby summoned to appear before the undersigned on

the day of at

for providing information & for production of

records pertaining to collection of deposit amounts from the public and

balance to be payable to them including the evidences to establish the same as

well as any other concerning matter related to the said complaint , and not to

depart thence without leave of the undersigned, and you are hereby warned

that, if you shall without just excuse neglect or refuse to appear on the said

date, a warrant may be issued to compel your attendance.

Given under my hand and designation, on

Competent Authority, Bengaluru.

To,

Form 5(E)

[See rule 3(2) and 7(2)]

(Summons for Appearance and Production of Documents under Section 3(1a)

read with section 6(2)(c) to Beneficiaries of Suspect/ Malafide Transactions

with the Financial Establishment)

Office of

Whereas a complaint has been registered against the financial entity viz.,

and its chief promoters viz.

and others in Crime No.

Police Station, for commission of the offences punishable under Section

of The Prize chits and Money Circulation Schemes (Banning) Act 1978

/Chit Fund Act, 1982 and Section

of IPC and section 9 of the

Karnataka Protection of Interest of Depositors in Financial Establishment Act,

2004 (Karnataka Act 30 of 2005).

And whereas, by virtue of appointment of this office by Government of Karnataka

as the Competent Authority for the said financial establishment under Section

5(1) of the Act vide notification no.

, and by virtue of the

notification No.

issued by the Government of Karnataka under section

5(1A) of the Act, notifying the undersigned as the Officer to assist the Competent

Authority in discharge of its functions under the Act.

You are hereby summoned to appear before the undersigned on the day of ……

at ……., to produce such document or thing or to testify what you know about

your financial transactions / dealings of any kind with the said financial

establishment or its Chief Promoters, including the bank / cash transactions and

contracts / agreements / MoUs of any kind as well as concerning the matter of

the said complaint , and not to depart thence without leave of the undersigned,

and you are hereby warned that, if you shall without just excuse neglect or refuse

to appear on the said date, a warrant may be issued to compel your attendance.

Please note you may produce the necessary documents, as above, instead of

attending personally to produce the same. (This is optional and to be indicated

where we want only the documents to be produced, say from Banks etc.)

Given under my hand and designation on……………………

Competent Authority, Bengaluru.

Date:

Form 6

[See rule 3(4)]

Ad – interim Order of Attachment

Office of

ORDER

Whereas, the undersigned has been appointed as the Competent Authority for

the Financial Establishment viz. under Section 5(1) of the Karnataka

Protection of Interest of Depositors in Financial Establishments (KPIDFE) Act

2004 vide Government Notification No.

dated

. Whereas, the

undersigned is empowered to seize or freeze properties which are liable for

attachment under rule 5 of the Karnataka Protection of Interest of Depositors in

Financial Establishment Rules, 2025, which reads as follows “Where the

Competent Authority is satisfied or has reason to believe that any property

which is liable to be attached under the Act is likely to be concealed, transferred

or dealt in any manner which will result in defeating the purpose of the Act, in

may make an order seizing such property or where it is not practicable to seize

such property make an order that such property shall not be transferred or

otherwise disposed of or dealt with, except with prior permission of the special

Court.”

Whereas, the undersigned has reasons to believe that Sri. , Aged about ,

R/o

has received acquired property/ received an illegal gratification

from out of the depositors’ funds of M/s

Whereas, the undersigned has taken steps for notification under section 3(2) /

for filing application before the Hon’ble Special Court under section 13 of

the Karnataka Protection of Interest of Depositors in Financial Establishment

Act, 2004 (Karnataka Act 30 of 2005) for attachment of the schedule property

belonging to the above-mentioned person.

Whereas, the undersigned has reasons to believe that the schedule property, which

is the property of the above-mentioned person, is likely to be transferred in a

manner which will result in defeating the purpose of filing the above-mentioned

application before the Hon’ble Special Court.

Therefore, the undersigned hereby orders under powers vested with him under

Rule of the Karnataka Protection of Interest of Depositors in Financial

Establishment Rules 2025, that the schedule property shall not be transferred

or otherwise disposed of or dealt with except with the prior permission of the

Hon’ble Special Court.

Schedule Property

Competent Authority / Authorized Officer for Competent Authority

Copy to:

FORM 6(A)

[See rule 5(1)]

OFFICE OF THE COMPETENT AUTHORITY FOR

PLACE:

Date:

ORDER FOR ENTRY, INSPECTION, SEARCH AND SEIZURE

Whereas, the undersigned has been appointed as the Competent Authority for the

Financial Establishment, namely,

under section 5(1) of the

Karnataka Protection of Interest of Depositors in Financial Establishment Act,

2004, vide Government Notification No.

dated

Whereas, the undersigned is empowered to enter and search any premises;

seize movable properties; freeze bank accounts; attach money or property

believed to have been acquired by a Financial Establishment, either in its own

name or in the name of any other person, out of the deposits collected by it; inspect

any register, book, record, paper, application, electronic information storage and

retrieval device or medium, instrument or proceeding kept therein; and take such

notes and extracts as may be deemed necessary.

Further, the person having custody of, or maintaining, any of the above-

mentioned items shall, at all reasonable times, produce them before, or permit, the

Competent Authority or an officer authorized by the Competent Authority to

inspect them and perform the duties specified above.

The Competent Authority has reason to believe that the registers, books,

records, papers, applications, instruments or proceedings pertaining to the above-

mentioned Financial Establishment are kept at the premises specified below:

Premises:

The Competent Authority has authorized Shri/Smt.

(Designation)

to carry out the search operations at the

abovementioned premises.

Therefore, you are required to permit the Competent Authority/Authorized

Officer to enter and inspect the premises and carry out the duties enumerated

above, without causing any impediment.

Issued under my signature and seal on this

day of

Competent Authority

Shri/Smt.

(Occupant

the

premises)

Address:

Copy to: Shri/Smt.

Authorized Officer.

Form 6(B)

[See rule 5(1)]

Inventory

Office of _______________________________________

Inventory of movables taken possession in case no.

/Section 3(2)

Order no…………..

Inventory of movable properties taken possession of at the premises of

Shri/M/s.…………….……Plot No. …………… /Gala No.……………./ H. No.

……………. Street No. …………….……………. of ........................................... under

Section 6 of the Karnataka Protection of Interest of Depositors in Financial

Establishment Act, 2004 (Karnataka Act 30 of 2005) made there under, on

this…………….Day of by Shri……… Authorized Officer under the said Act between

the hours …………….am/pm and ......................................... am/pm.

Sl.No. Description of

Article

Number/

Quantity

Condition

Place of safe

custody

Signatures of the Panchas:

(Drawn Before me: Competent Authority/ Officer Authorised)

Copy To:

1. Party present

2. Office Copy

Form 6(C)

[See rule 5(1)]

Panchnama

Office of _______________________________________

Whereas we,

Sl.

No.

Name of

Panchas

Father's

Husband's

name

Address

Age

Occupation

Contact

The above mentioned Panchas on being called under section 6(2)(a) of the

Karnataka Protection of Interest of Depositors in Financial Establishment Act, 2004

(Karnataka Act 30 of 2005)

by Shri……………………………………………..., the

Competent Authority/ Officer authorized by the Competent Authority, who has

been appointed by the state government for cases ………………… vide orders

no…………. dated …………… today entered the premises of Shri / M/s.

…………………………………….

at…………………………………….and

taken

over

possession of movable properties as detailed in the inventory attached to this

Panchanama between the hours……… AM/PM and AM/PM in our presence.

We were accompanied by Shri/ Ms.

on behalf of the occupant/

owner of the property, who is (enter relation) of the owner/occupier of the

premises.

The description of the said premises is as follows: The premises is a

residential/commercial property and consists of _ _ _ floors. We entered floor

number in the beginning. That floor has number of rooms viz.

number of bedrooms number of toilets number of kitchen and

number of living room etc. The colour of the walls of the rooms is

_ _ _ _ . We met Shri/Ms. on the floor who is

(enter relation) of the

owner/occupier of the premises. {In a similar way, narrate the description for each

floor or part of the building which were searched}

We also hereby state that during take-over/possession of the movable properties

…………………………..…………………………………………………………………………

…………………………………..

(To be filled in case of occurrence of any incidence)

We declare that the facts of the Panchanama mentioned herein are true and correct

to the best of our observation and knowledge.

Form 6(D)

[See rule 5(2)]

POSSESSION NOTICE (For immovable property)

Office of ___________________________________

Whereas, the undersigned is the competent authority/ officer authorized

by Competent Authority appointed for ……………….by the state government vide

its orders no.………. dated………………. under the Karnataka Protection of Interest

of Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005).

Notice is hereby given to the ......................... (owner) and the public in general that

the undersigned has taken possession of the property described herein below,

in exercise of powers conferred on him / her under Section 6 of the said Act

read with Rule………………. of the said rules on this………………. day of

……………of the year…………. The owner of the property in particular and the

public in general are hereby cautioned not to deal with the property and any

dealings with the property will be subject to the orders of the Special Court

……………….

The owner of the property and any lessee therein and any person in any kind

of possession, occupation or enjoyment is hereby cautioned that no commercial

exploitation of the said property is allowed without permission of the Special

Court and if any such use is found, the said person shall be evicted as per due

process of law.

It is also hereby directed that any person utilizing the said property for personal

gain shall remit all such moneys and materials to the Competent Authority till

orders of the Special Court and any person utilizing the premises for any

purpose on any form of lease or rent or mortgage shall remit the amount paid as

per terms and conditions of any agreement or contract to the Competent

Authority and any person carrying out any temporary or permanent works or

installations in the said premises shall stop such activity forth with, subject to

orders of the Special Court. Description of the immovable property

Property owned by:

All that part and parcel of the property, consisting of Flat No. / Plot No.

……………….

in Survey No./ City or Town Survey No. / Kasara No.

……………….

within

the

registration

sub district…………

and

district……………….

Bounded:

On the North by……………………………………………………………………………….

On the South by ……………………………………………………………………………….

On the East by ……………………………………………………………………………….

On the Westby ……………………………………………………………………………….

Form 7(A)

[See rule 7(2)]

Possession Certificate for Immoveable Assets

Office of

Immovable assets taken possession in Case No.

on orders of

Special Court in

from the location,

belonging to

Address

vide document

with encumbrance

and having assigned rights of

to (name , age, address, contact:

Vide document/s:

Under Section 5(2) of the Karnataka Protection of Interest of Depositors in

Financial Establishment Act 2004 and Rules 2025 made there under, on this

day

by,

authorized

officer

under the said [Act].

Date:

Signature of Authorized Officer/ Competent

Authority

Form 7(B)

[See rule 7(2)]

Possession Certificate for Moveable Assets

Office of

Inventory of movable assets taken possession in Case No.

orders of Special Court in

from the premises of

Shri /Mr/Smt.

Address

under Section 5(2) of the Karnataka Protection of Interest of Depositors

in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005) and Rules

2025 made thereunder, on this

day of

by, authorized officer of

under the said

[Act].

Date

Signature of Authorized Officer/ Competent

Authority

Form 7(C)

[See rule 7(2)]

Possession Certificate for Documents and Records

Office of

Inventory of documents

and

records taken

possession in

Case

No.

orders

Special

Court

from the premises of Shri /Mr/Smt.

Address

under Section 4, 5 and

6 of the Karnataka Protection of Interest of Depositors in Financial

Establishment Act, 2004 (Karnataka Act 30 of 2005) and Rules 2025 made

thereunder, on this

day of

by, authorized

officer of

under the said Act.

Sl. No.

Description

of article

Type of

Document or

Record

electronic

record,

storage

device in

which

seized

Proposed

use

Date

Signature of Authorized Officer/ Competent

Authority

FORM 7(D)

[See rule 8(2)]

Order of transfer of Marketable Securities

Office of ________________________

ORDER

[As per section 56(2) of Companies Act]

Whereas, the undersigned has been appointed as the Competent Authority for

the Financial

Establishment

under section 5(1) of the Karnataka Protection of

Interest of Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of

2005)

Whereas, ad-interim attachment order has been issued under the provisions of

section 3(2) of the Act. The property (“property details” herein after referred to

as the “Subject property”) has been attached under the notification bearing No.

, dated

. The subject marketable securities

attached are at the Sl.

No.

of Annexure- of the Notification bearing No.

, dated

Whereas, the Special Court has made the attachment absolute, vide order

number

In exercise of the powers conferred upon the undersigned as the Competent

Authority, the marketable securities shall be transmitted to the Demat Account

bearing DPID No.

standing in the Competent Authority.

The

(concerned authority) shall upon receiving this order for

transmitting the marketable securities, transmit the same in the name of Competent

Authority.

The

(concerned authority) shall ensure compliance with the

above directives within [Specified Time frame] and submit a detailed compliance

report to this office.

This order is to be executed forthwith, and any delay or deviation will be viewed

strictly in terms of the provisions of the Karnataka Protection of Interest of

Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005)

Date:

Issued under my authority and seal

(Competent Authority)

Form

7(E)

[See rule 9(2)]

Format of Notice of Sale By Auction under section 6(2)(f)

Office of

Notice is hereby given to the public in general and in particular to the owner(s)

that the below described movable property ad-interim attached by the state

government vide notification no……….dated…… possession of which has been

taken by the Competent Authority for……………………., will be sold on “ As is

Where is”, As is What is” and Whatever there is” on…………….(mention date of

the sale), as per the orders of the Special Court in case No………..

dated…………….The reserve price will be Rs…………………and the earnest money

deposit will be Rs. ………………..

(Give description of the property with known encumbrances, if any)

……………………………………………………………………………………………………

……………………………………………………

……………………………………………………………………………………………………

……………………………………………………

……………………………………………………………………………………………………

………………

For detailed terms and conditions of the sale, please refer to the link provided

in website: ………… (*) specific link created for the particular auction can be

mentioned.

Date:

Place:

Competent Authority

Form 7(F)

[See rule 9(5)]

Application for Disposal of Perishable Goods

MAY IT PLEASE YOUR WORSHIP:

the applicant above named beg to state the following

on solemn affirmation:

That the following goods attached under section 3(2) of the Karnataka

Protection of Interest of Depositors in Financial Establishment Act, 2004

(Karnataka Act 30 of 2005) , vide notification

seized from the premises of

(name of Person and / or FE) more fully described in the Schedule below,

valued at Rs.

are of :

a) Perishable/deteriorating nature. Any further storage is likely to cause

depreciation in its value.

b) Hazardous in nature

c) Cost of storage and maintenance is very high

d) Other (to be specified)

It is, therefore, prayed that your Worship may be pleased to order for the

disposal of the said by public auction or private arrangement as the case

may be, as provided under Section 6(2)(f) of the Karnataka Protection of

Interest of Depositors in Financial Establishment Act, 2004 (Karnataka Act

30 of 2005) .

In view of the foregoing, the Competent Authority most humbly prays that this

Hon’ble Court be pleased to take the above report on record and pass suitable

orders in the interest of justice and equity.

This

day of

Competent Authority

Schedule

No.

Item

Description

Quantity

Likely

Value

Reason for

Disposal

Method of

Disposal

Form 7(G)

[See rule 9(3)]

SALE CONFIRMATION ADVICE

Office of

Shri / Shrimati / Mr. / Ms.

……………………………

Date:

Sir,

You are the successful bidder in the auction vide No.

held

on …………………………. of the property absolutely attached by the Special Court

in case no…………. on…………… and more fully described in Schedule A (for

Immoveable Property) and Schedule B (for Moveable Property) in terms of

Document No ……………………… dated ……………...

SCHEDULE - A

All that part and parcel of the property consisting of land and premises bearing

Flat No. / Plot No/ Door

No ……………… Street, ………………., Village / Town

, and / or

land measuring …………………. sq. ft. (or ____Acres & ____Gunta) having

plinth area of ……………………………… sq. ft. comprised in or Survey No

………………, Khata No …………………… village,

, within

the Taluka of _____________________and District of ……………………………. Bounded

on the North by: ………………………

South by: ………………………………….

East by: ……………………….

and West by: …………………...

SCHEDULE – B

Sl.

Description

of article

Category

Reserv

e Price

Bid

Price

Quantity

Total

Sale

Amount

Amount

Remitted

(excluding

Earnest

Money

Deposit

)

Balance

Remitted

Period of

Remission

We would also like to inform you that you have to remit/transfer the

requisite payment to the account details mentioned below with the following

details. (Amount Calculation sheet enclosed).

Form 7(G)(i)

[See rule 9(3)]

NOTICE OF PENALTY AND CONFISCATION OF DEPOSIT

Office of

Shri / Shrimati / Mr. / Ms. ……………………………

Date:

Sir,

You are the successful bidder in the auction No. held on

…………………………. of the property absolutely attached by the Special Court in

case no ………………………………… on……………… and more fully described in

Schedule A (for Immoveable Property) and Schedule B (for Moveable Property)

in terms of Document No ....................................................................................dated

……………...

SCHEDULE - A

All that part and parcel of the property consisting of land and premises bearing

Flat No. / Plot No/ Door

No ……………… Street, ………………., Village / Town

, and / or

land measuring …………………. sq. ft. (or ___Acres & _____Gunta) having plinth

area of ……………………………… sq. ft. comprised in or Survey No ………………,

Khata No ……………………village, within the Taluka of ___________________________

and District of ……………………………. Bounded on

the North by: ………………………

South by: ………………………………….

East by: ………………………

And West by: …………………...

SCHEDULE – B

Sl.

Description

of article

Category

Reserve

Price

Bid

Price

Quantity

Total

Sale

Amount

Amount

Remitted

(excluding

Earnest

Money

Deposit

)

Balance

Remitted

Period of

Remission

Whereas you have / have not (cross out what is not relevant) remitted the

initial amount of Rs.

intimated

you

vide SALE

CONFIRMATION ADVICE

dated

Whereas you have / have not (cross out what is not relevant) sought for

extension and have been advised to remit the balance Rs ……………………… on

or before the day of

for the transfer of the said

property in your favour.

Whereas you have failed to do so within the stipulated / extended ( cross out

what is not relevant ) period

Whereas you have remitted only a sum of Rs

within

the stipulated / extended ( cross out what is not relevant ) period and a sum of

is outstanding.

You are hereby warned that on failure to remit the outstanding amount within

the next 10 (ten) days with a penalty of 5 percent per day of further delay i.e.

on or before ………………… day of ………………………., 20 , the amount

already remitted would be forfeited along with any earnest money deposit paid

by you.

Date:

Competent Authority

Place:

Form 7(G)(ii)

[See rule 9(3)]

ORDER OF CONFISCATION OF DEPOSIT

Office of

Shri / Shrimati / Mr. / Ms. ……………………………

Date:

Sir,

You are the successful bidder in the auction No. held

on …………………………. of the property absolutely attached by the Special Court

in case no……………………………. on ………………… and more fully described in

Schedule A (for Immoveable Property) and Schedule B (for Moveable Property)

in terms of Document No ....................................................................................dated

……………...

SCHEDULE - A

All that part and parcel of the property consisting of land and premises bearing

Flat No. / Plot No/ Door

No ……………… Street, ………………., Village / Town

, and / or

land measuring …………………. sq. ft. (or ____Acres & ____Gunta) having

plinth area of

……………………………… sq. ft. comprised in or Survey No ………………, Khata

……………………

village

within the

Taluka

and District of …………………………….

Bounded on the North by: ………………………

South by: ………………………………….

East by: ………………………

And West by: …………………...

SCHEDULE – B

Sl.

Description

of article

Category

Reserve

Price

Bid

Price

Quantity

Total

Sale

Amount

Amount

Remitted

(excluding

Earnest

Money

Deposit

)

Balance

Remitted

Period of

Remission

Whereas you have despite adequate opportunity, failed to remit the balance Rs

……………………… on or before the day of

20 for the

Form 7(H)

[See rule 9(4)]

CERTIFICATE OF SALE

Office of

Whereas,

The undersigned being the Competent Authority /Authorized Officer of the

Competent Authority appointed by the state government vide notification no

…………. Dated ……………. of the Karnataka Protection of Interest of Depositors

in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005) sold on behalf

of the State government in favour of

Shri / Shrimati / Mr / Ms

Son / Wife of

Address

which has been

attached absolutely by the Special Court in case no …………………………………

the property shown in the schedule below, vide auction No

The undersigned acknowledges the receipt of Rs ...................................... (Rupees

……………………………. Only), being the sale price in full as the highest bid amount

in the auction and handed over the delivery and possession of the scheduled

property.

1. Schedule A: Description of immoveable property

All that part and parcel of the property consisting of land and premises bearing

Flat No. / Plot No/ Door

No ……………… Street, ………………., Village / Town

, and / or

land measuring …………………. sq. ft. (or ____Acres & ____Gunta) having

plinth area of

……………………………… sq. ft. comprised in or Survey No ………………, Khata

……………………

village

within the

Taluka

and District of ……………………………. Bounded:

On the North by……

On the South by……………….

On the West by ...........

& On the East by ……………………

List of Encumbrances:

2. Schedule B: Description of the immovable property

Sl.

No.

Description of

article

Category

Bid

Price

Quantity

Total

Sale

Amount

Tax

Duties Paid

Form 7(I)(i)

[See rule 9(4)]

ACKNOWLEDGEMENT FOR RECEIPT OF TITLE DEEDS

In respect of the property sold in the account of the Competent Authority I/we

Address

submit and declare that I/we have purchased a

property, details of which are given here under, on for

Rs ……………… (Rupees ………………………………. Only) through bid process held

by the Competent Authority under the Karnataka Protection of Interest of

Depositors in Financial Establishment Act, 2004 (Karnataka Act 30 of 2005).

Before giving the bid of the property due opportunity was provided by the

competent authority for inspection of the property/ record. It was after my full

satisfaction and after checking of the relative revenue records and documents

the bid was submitted by me/us. I/we understand that Competent Authority has

sold the property on “As is where is” & “As is what it is” basis. Now I/we have

deposited the full confirmed bid amount and the Competent Authority has

handed over peaceful and vacant possession of the under noted property to

me/us as on this date. I/we have again inspected the property which is intact

and is in order and to our entire satisfaction. Now, onward I/we have no claim

left against the Competent Authority or any of its officials.

I/we have also received the related sale certificate and title deeds including bearing

……………………… dated ................... (in original).

Description of Property

All that part and parcel of the property consisting of land and premises bearing

Flat No. / Plot No/ Door No ……………… Street, ………………., Village / Town

, and / or land measuring …………………. sq. ft. (or _ __ Acres &

_____ Gunta) having plinth area of ……………………………… sq. ft. comprised in or

Survey No ...................... , Khata No

…………………… village

, within the Taluka of

and District of …………………………….

Bounded: On the North by ……

On the South by ……………….

On the West by ……………………….

On the East by ………………………………

Dated: …………………….

(Name & Signature of the Purchaser)

Form 7(I)(ii)

[See rule 9(4)]

ACKNOWLEDGEMENT FOR RECEIPT OF MOVEABLE GOODS

In respect of the assets sold in the account of the Competent Authority

I/we

Address

submit and declare that I/we have purchased the goods

more fully described in the schedule below, for Rs ....................................... (Rupees

… ............................................ Only) through public auction / E-auction /

Private Treaty process (cross out what is not relevant) held by the Competent

Authority under the Karnataka Protection of Interest of Depositors in Financial

Establishment Act, 2004 (Karnataka Act 30 of 2005). Before giving the bid of the

property due opportunity was provided by the competent authority for

inspection of the property/ record. It was after my/ our full satisfaction and after

checking of the relative records and documents the bid was submitted by me/us.

I/we understand that Competent Authority has sold the property on “As is

where is” & “As is what it is” basis. Now I/we have deposited the full confirmed

bid amount and the Competent Authority has handed over possession of the said

property to me/us as on this date. I/we have again inspected the property which

is intact and is in order and to our entire satisfaction. Now, onward I/we have

no claim left against the Competent Authority or any of its officials.

I/we have also received the related sale certificate and relevant documents

bearing No ……………………… dated ........................ (in original).

Schedule

Sl.

No.

Description of

article

Category Bid

Price

Quantity Total

Sale

Amount

Tax

Duties

Paid

Dated: …………………….

(Name & Signature of the Purchaser)

Place:

Form 7(J)

[See rule 9(5)]

Notice for Sale by Private Treaty

Office Of

The undersigned as Competent Officer under Section 5(1) of the Karnataka

Protection of Interest of Depositors in Financial Establishment Act, 2004 (Karnataka

Act 30 of 2005) has taken over possession of the schedule property(ies) u/s 5(2)

of the Act by order of Special Court in

and the said properties vest in the Authority.

Public at large is informed that the property(ies) as mentioned in the Schedule

are available for sale through Private Treaty, as per the terms agreeable to the

Competent Authority and specified by the Special Court in its order

for realization, liquidation and for repayment to

approved claims.

The standard terms & conditions for sale of property through Private Treaty are as

under:

1. Sale through Private Treaty will be on “AS IS WHERE IS and “AS IS WHAT IS

BASIS”

2. The purchaser will be required to deposit 25% of the sale consideration on

the next working day of receipt of the Competent Authority’s acceptance offer for

purchase of property and the remaining amount within 15 days thereafter.

3. The purchaser has to deposit 10% of the offered amount along with application

which will be adjusted against 25% of the deposit to be made as per clause

(2) above.

4. Failure to remit the amount as required under clause (2) above, will cause

forfeiture of amount already paid including 10% of the amount paid along

with the application.

5. In case of non-acceptance of offer of purchase by the Competent Authority,

the amount of 10% paid along with the application will be refunded without

any interest.

6. The property is being sold with all existing and future encumbrances whether

known or unknown to the Competent Authority. The Competent Authority

shall not be responsible in any way for any third party claims/ rights /dues.

7. The purchaser should conduct due diligence on all aspects related to the property

(under sale through private treaty) to his satisfaction. The purchaser shall not

be entitled to make any claim against the Competent Authority in this regard at

a later date.

8. The Competent Authority reserves the right to reject any offer of purchase

without assigning any reason.

Form 8(A)

[See rule 11(1)]

Report of Competent Authority under Section 7(1) of Act

MOST RESPECTFULLY SHOWETH:

1. It is submitted that, the Competent Authority is a duly constituted

authority appointed by the

Government of Karnataka in exercise of its powers under section 5(1) of

the Karnataka Protection of Interest of Depositors in Financial

Establishments Act 2004 (hereinafter referred as ‘KPIDFE Act’ for short),

as per its notification bearing No.

dated

With

respect

the

Financial Establishment

. A copy of the appointment notification is

herewith produced and marked as ANNEXURE – A.

2. Whereas, ad-interim attachment order has been issued under the

provisions of section 3(2) of the Act. The property (“property details”

herein after referred to as the “Subject property”) has been attached

under the notification bearing No.

, dated

3. Whereas, seizure reports made by Investigating Officer in Case

Number

Filed

has revealed the assets and

liabilities as per schedule attached.

(Attach Schedule)

4. Whereas the likely value, subject to report of approved valuer and

subject to realization and any encumbrances on the said assets, as

reported by the Investigating Officer is

5. Whereas the likely number of depositors, subject to confirmation and

assessment as per proviso of Section 7 of the Act and any judicial

proceedings, is

and the likely value of claims is

6. Whereas the likely number of secured creditors, subject to

confirmation and assessment as per proviso of Section 7 of the Act and

any judicial proceedings, is

and the likely

value of claims of secured liabilities is

7. Whereas the undersigned Competent Authority has commenced with

further inquiry, forensic audit, valuation of assets and calling for /

assessment of claims as below:

(i) Inquiry:

FORM 8(B)

(See rule 11(2)]

PUBLICNOTICE

[Under Section 7(2) of the Act and

Office of,

Address:

File No:

Date:

FOR THE ATTENTION OF THE DEPOSITORS OF [NAME OF FINANCIAL

ESTABLISHMENT]

Public Notice is hereby by means of effective media publication, inviting

the claims by secured creditors, if any, and also the depositors of the

Financial Establishments to submit their claims with proper proofto

establish the same on or before Date:

with the

& Competent Authority

, appointed u/s 5(1) the Karnataka

Protection of Interest of Depositors in Financial Establishment Act, 2004

(Karnataka Act 30 of 2005), vide GO No:

For more information you may contact Office of

at the

following numbers:

OR visit the following websites:

Please Note: The claim applications shall be available for download at the above websites

and also at the counters opened for them at the following offices between

10.00 am and 6.30 pm on all working days from Date

One Claim Application Form shall have to be filled for each deposit given a Customer

ID by the Financial Establishment. Applications are to be filled by Depositors only

except in cases of indisposition/ death / hospitalization / travel etc. or other valid

reason where Nominee / Legal Heir / Power of Attorney holder is allowed to carry out

the formalities. Bulk application or application by agents and middle-men are not

allowed.

In cases where database of depositors is available with the Competent Authority,

applications shall be filled and accepted online with option of offline acceptance for

those who wish to avail the same at the above addresses. In cases where database is

not available, manual forms shall be issued and received manually at the counters

above.

Sl NO Type of Claimant

Documents Required

Secured Creditor

Registration Document as ID proof of

institution

ii.

Registered Security / Mortgage / Lien

/ Guarantee

Depositor

Photo ID (Aadhaar & PAN / EPIC /

Passport etc.

ii.

Bond / Agreement / Contract with

Financial Establishment

iii.

Front Sheet of Bank Account

Passbook (With Photo)

iv.

Copy of the Bank Account Statement

corresponding to transaction of the

claimant with FE, certified by the

concerned Bank

Nominee

Certificate of death of depositor

ii.

Family / Genealogical Tree (issued by

Tahsildar)

iii.

Copies of documents must be self -

attested

Other Legal Heir

Certificate of death of depositor

ii.

Family / Genealogical Tree (issued by

Tahsildar)

iii.

Certificate

of death of Nominee (if

applicable)

iv.

Court order as legal heir or

Authorization from Depositor /

Nominee

Authorization from other legal heirs

vi.

Copies of documents must be self -

attested

Power of Attorney

Certificate of hospitalization / medical

treatment of Depositor / Nominee

ii.

Authorization letter by Depositor /

Nominee

iii.

Notarized Power of Attorney issued for

the specific purpose of Claim

Application (in case Depositor is

abroad, same shall be attested by

Embassy official or by a notary /

advocate)

Documents to be submitted

Scheme wise

Sl No

Type of Scheme

Documents Required

Savings Scheme

Front Sheet of Bank Account Passbook

(With Photo)

ii.

Copy of the Bank Account

Statement corresponding to transaction

of the claimant with FINANCIAL

ESTABLISHMENT, certified by the

concerned Bank

Fixed Deposit Scheme

Bond Certificate / Fixed Deposit

Certificate

ii.

Copy of the Bank Account Statement

corresponding to transaction of the

claimant with FINANCIAL

ESTABLISHMENT, certified by the

concerned Bank

Recurring Deposit

Scheme

Front Sheet of Recurring Deposit

Passbook

ii.

Copy of the Bank Account Statement

corresponding to transaction of the

claimant with FINANCIAL

ESTABLISHMENT, certified by the

concerned Bank

Other Deposit Schemes:

Gold Loan / Share /Hire

Purchase / Lease /

Mortgage / MLM etc.

Bond /Agreement / Contract

ii.

Certificate Copy of the Bank Account

Statement corresponding to

transaction of the claimant with

FINANCIAL ESTABLISHMENT,

certified by Bank

Other

Cancelled Cheques if any should be

produced with Name printed thereon

ii.

Any other document, duly self-

certified, provided original is

produced at time of verification.

Note:

In case of unregistered bonds & agreements, penal registration fees

should be paid where required.

ii.

Claim applications received after

shall not be treated as

valid claim as per Section 7 (3) of KPIDFE Act

iii.

Submission of misleading and willfully incorrect claims or false / forged

documents / impersonation shall lead to rejection and prosecution.

iv.

Claim application shall be typed or neatly hand-written.

Only one claim can be submitted per scheme per depositor and once submitted

shall not be returned or modified.

FORM – 8(B1)

[See rule 11(2)]

SPLOCA Government of Karnataka

SL No

CLAIM APPLICATION FORMUNDER 7(2) OF

KPIDFE ACT

Form No CA

CLNO

COMPETENT

AUTHORITY:

Photo

Should

Be Latest

Colour of

Passport

Size

FINANCIAL

ESTABLISHMENT:

Claim Application No.

Date of Claim:

Use Ball Point Pen. Fill up 1 & 2 in CAPITALS, 3 as it is, 4 with

details of House Number, Street, Town / Village & Pin Code, 5

as dd/mm/yy, 7 as used.

Checklist

(For

Official

Use)

Name of Claimant /

Depositor

Father /Husband

Name*

Customer /Client ID

(Mandatory to

attach MOU/

Investment

Agreement Copy

duly attested by

Gazetted Officer or

bring original for

verification)*

Correspondence

Address (Latest)*

Date of Birth and

Age*

Mobile & Alternate

Contact (Latest)*

Email Address

Aadhaar / Indian

Passport / Driving

License Number

(Attach copy

attested by

Gazetted Officer or

bring original for

verification) *

PAN (Attach copy

attested by

Gazetted Officer or

bring original for

verification) *

Nominee Details with Relationship (if

applicable)

Documents

Required

Nominee Name

a. Attach

copy

attested by

Gazetted

Officer and

bring original

for

verification:

Gender & Age

b. SSLC

certificate /

Age Proof duly

attested

Relationship to

Depositor

c. Genealogy

Tree issued

Jurisdictional

Tahsildar in

case of legal

heirs.

ID Proof of Nominee

(Aadhaar /

Indian Passport

/Driving

License)

d. Attach

copy

attested by

Gazetted

Officer and

bring original

for

verification:

Proof of Nomination

e. Nomination

Proof in

case of

Nominee.

All the Bank account details of deposit and receipts by or

on behalf of the depositor with the FINANCIAL

ESTABLISHMENT * Note: Format of Statement of

Investment provided in Annexure

a. Bank A/c

c. Branch Name

b. Bank

Name

d. IFSC Code

12 ^{Type of Schemes &}

Name of Schemes*

Bank Account details in which claimant seeks refund

(Attach Front Sheet of the Bank Account Passbook attested

by Bank Manager) *

a. Bank A/c

c. Branch Name

b. Bank

Name

d. IFSC Code

* Providing this information is mandatory. Incomplete application is

liable for rejection.

TOTAL AMOUNT DUE [TOTAL DEPOSITED - TOTAL

RECEIVED in Numerals &

Words] =

Declaration by Depositor/ Nominee/ Legal Heir or Power of Attorney

(POA):

I State that the information given above is Complete true and correct to the

best of my knowledge and information and I have not suppressed or

concealed any material information. If at any point of time, it is found that

information given is incomplete/ false/ misleading/ Suppressed or

claim is fictitious/ false claim, Then Competent Authority may reject my

claim application and initiate appropriate legal action against me.

Date:

Signature & Name

Place:

FORM – 8[B1(i)]

[See rule 11(2)]

Statement of Investment

SPLOCA,

Government of Karnataka

Annexure:

STATEMEN

OF INVESTMENT

Sl. No

Financial

Enterprise

Form No

CLNO

Investment

Customer ID NO

Remarks

PARTICULARS

[ RTGS, IMPS OR

CHEQUE]

NAME OF THE

SCHEME

Depositor Bank Details

NAME OF THE

BANK

A/C

Number,

BRANCH/

IFSC

CODE

Date

Deposit (Rs)

NEFT / RTGS /

IMPS

CHEQUE NO

Total

Deposit (Rs)

Remarks

FINANCIAL ESTABLISHMENT Bank Details

NAME OF THE

BANK

A/C

Number,

BRANCH/IFSC

CODE

Date

Receipt

NEFT / RTGS /

IMPS

CHEQUE

Total

Receipt

Remarks

Note: FE is Financial Enterprise. Please ensure Account Number, IFSC Code

and amounts written for Deposits and Receipt are correct as it will be cross

verified. False information is punishable.

Date:

Name

Signature

FORM 8(B2)

[See rule 11(2)]

PROOF OF CLAIM BY SECURED CREDITORS

Date ………..

The Competent Authority

From

[Name and address of the creditor]

Subject: Submission of proof of claim.

Madam / Sir,

I, [Name of the creditor], hereby submit the following proof of claim in respect

of the corporate insolvency resolution process in the case of [name of debtor].

The details of the same are set out below:

PARTICULARS

Name of the creditor

Identification number of the creditor

(If an incorporated body corporate,

provide identification

number

and

proof

incorporation.

partnership

individual,

provide

identification record* of all partners or

the individuals)

Address and email address of the

creditor for correspondence

Description of the claim (Including the

amount of the claim as at the

insolvency commencement date)

Details of documents by reference to

which claim can be substantiated or is

secured (Attach copy attested by

gazetted officer)

Details of how and when the claim

arose

Details of any mutual credit, mutual

debts, or other mutual dealings between

the debtor and the creditor

which may be set-off against the claim

Details of:

any security held, the value of

security and its date, or

retention title arrangement

respect of goods or properties to which

the claim refers

Details of bank account to which the

amount of the claim or any part

thereof can be transferred pursuant

to a resolution

10.

List of documents attached to this

claim in

order to prove the existence and non-

satisfaction of claim due to the

creditor

Signature of the creditor or any person authorised in writing to act on his

behalf

(Please enclose the authority if this is being submitted signed on behalf of

the creditor)

Name in BLOCK LETTERS

Position with or in relation to the creditor

Address of the person signing

* PAN, Passport, AADHAAR or the EPIC issued by the Election Commission of

India.

DECLARATION

I, [Name of claimant], currently residing at [insert address], do hereby declare

and state as follows: -

1. [Name of corporate debtor], the corporate debtor was, at the insolvency

commencement date, being the……………..day of…………..20……., actually

indebted to me in the sum of Rs. [insert amount of claim].

2. In respect of my claim of the said sum or any part thereof, I have relied

on the documents specified below: [Please list the documents relied on as

evidence of claim].

3. The said documents are true, valid and genuine to the best of my knowledge,

information and belief and no material facts have been concealed therefrom.

4. In respect of the said sum or any part thereof, neither I, nor any person,

by my order, to my knowledge or belief, for my use, had or received any

manner of satisfaction or security whatsoever, save and except the following:

FORM – 8[B2(i)]

[See rule 11(2)]

Statement of Credit and

Valuation of Security

(A) STATEMENT OF CREDIT

Sl. No

Financial

Enterprise

Form No

CLNO

Creditor ID

Remarks

PARTICULARS [N

RTGS, IMPS

CHEQUE]

NAME OF THE

SCHEME

Creditor Bank Details

NAME OF THE

BANK

A/C

Number,

BRANCH/

IFSC

CODE

Date

Credit (Rs)

NEFT / RTGS /

IMPS

CHEQUE NO

Total Credit

(Rs)

Remarks

(B) Statement of Financial Entity Repayments and Bank Details

NAME OF THE

BANK

A/C

Number,

BRANCH/ IFSC

CODE

Date

Receipt

NEFT / RTGS /

IMPS

CHEQUE

Total

Receipt

Remarks

Note: FE is Financial Entity. Please ensure Account Number,

IFSC Code and amounts written for Credit and Receipt are

correct as it will be cross verified. False

information is punishable.

(C ) Statement of Securities

Security

(Description)

Moveable

Immoveable

Location

Document

Proof

of Security

Valuation

Date:

Name

Signature

Form 8(C)

[Rule 11(2)]

Affidavit to be filed with Claim

(Name),

(Age)

(Gender)

S/o or D/o or W/o

(Name of Father /

Husband),

Permanent

Address:

Current

Postal

Address

do hereby solemnly

affirm on oath as follows:

1. I have been residing in the above address and my personal details are as

under:

Aadhaar Number

Mobile Number

PAN

Date of Birth &

Age

Occupation:

Annual Income

(from all

Sources)

2. I have

invested

money

the

following financial

establishment

(henceforth, FE)

Name of the FE

Address of the FE

Name of the

Director/

Promoter/

Agent

through

whom

money invested in

the Company and

their

Mobile number if

any.

Customer ID given

by the FE

Name of the scheme

in which money has

been invested

From

(Date)

No of

Instalments

Total

Amount

Deposited

Name

the

scheme in which

money has been

invested

Rate

Interest

Paid

Instalments

Paid by FE

Total Amount

Paid By FE

Balance

Payable

Mode of Payment

to the FE (Cash /

Cheque/

NEFT/RTGS)

Bank

Account

Number

Name of

Bank

Branch

Bank Account

No of FE

Name

Bank

Branch

of FE

3. I state that Sri/ Smt

(Name), the Director/

Promoter/ Agent/ Partner / Employee of the said FE had collected Rs.

on an assurance to pay the sum of Rs

in cash or kind in the form of

(describe

the

facility or property or valuable or instrument promised and not complied or

amount not returned as promised), and has fraudulently defaulted

a. to return the deposit a(er maturity or on demand by me

b. to provide the service against such deposit; cheated me by the amount

which I have invested. OR

(any other complaint)

4. I am herewith producing the attested copy of the Bond/ Memorandum of

Understanding/ Security Document / Deposit Contract or Certificate /

Share Certificate / Pass Book as detailed hereunder:

Bond/ Memorandum of

Understanding/ Security

Document / Deposit

Contract or Certificate /

Share Certificate / Pass

Book No.

Date of issue of Bond/

Memorandum

Understanding/

Security Document /

Deposit

Contract or Certificate /

Certificate / Pass Book

5. I state that I am not a former or present promoter, owner, partner,

director, manager, member, administrator, accountant, employee or

collaborator, in any form or any connected person of the said financial

establishment or its subsidiaries or group of companies and further that I

do not have any business relationship with the said financial

establishment.

6. I state that I am not an accused in any cases including criminal cases

pertaining to or related to the above-mentioned financial establishment.

7. I state that I was employed at …………………………… (Name of the

organization)

with

the

designation

…………………………………………………. from ……………. (DD/MM/YY) to

……………. (DD/MM/YY) receiving a salary of Rs……… per month and a yearly

remuneration of Rs. ……………………………….. during the period of which I have

invested in the Financial Establishment, and have never been employed by the FE

for any valuable consideration or as an agent.

8. I state that I am in possession of the originals of the above-mentioned

documents and I agree to produce the original documents as and when called

for by the Competent Authority or any competent court.

9. I state that above information provided by me are true to the best of my

knowledge and I have not suppressed or concealed any fact. I understand

that if any information and / or documents produced by me are found to

be false, fabricated or forged, I shall be liable for criminal prosecution, and

shall also forfeit my claim.

Date:

Deponent

Place:

Form 9(A)

[See rule 11(3)(i)(b)]

Declaration by Claimant who is not the Depositor

I/We wish to inform the demise of Shri/ Smt/ Kumari

. He / she was

depositor in Deposit Account / Document No

in Financial Establishment

and is eligible

for return of the balance due.

I/We have lodged my/our claim for the balances due vide Claim Registration No

. I/We am/are the legal heir/s of the above named deceased

person. The relevant information about the deceased and the legal heirs are as

under:-

1. Names in full of the parents of the deceased:

Father

Mother

2. Religion of the deceased

3. Details of living: (i) Husband (ii) Wife (iii) Children (iv) Father (v) Mother (vi) Brother

(vii) Sister (viii) Grand Children, the name and address with their respective ages,

Relationship with the deceased

Sl No.

Full Name

Address

Occupation Age

4. Claimant/s name/s and address in full:

ii)

iii)

Form 9(B)

[See rule 11(3)(i)(b)]

LETTER OF INDEMNITY

To be executed by all the major legal heirs of the deceased and two

sureties of substantial worth

To the Competent Authority

Dear Sir/ Madam,

Re:

Claim

with

Customer

Scheme

the

name

1. We

regret

inform

you

that

Shri/Smt./Kum.

who was

Depositor /

Claimant

the

above Scheme of the

Financial

Establishment

from date

is deceased on

2. We have further to inform you that he/she left behind him/her surviving

as his/her only heirs and next-of-kin the following (name of heirs & next of

kin)

Name

Gender &

Age

Relationship

Photo ID

According to the Law of Intestate Succession, applicable to (Hindu,

Muslim, Parsi, etc) by which Law he/ she

was governed at the time of his/her death.

3. We have further to inform you that the balance payable to the said

Claimant is Rs.

/- for Scheme

and

Customer ID No

That there are articles / money returnable to the said Claimant in

Deposit vide Agreement / Contract/

Bond

/ Guarantee

Number

Sl No Article/

Amount

/ Property in

Deposit

Description

Value

Type

Agreement

Bond /

Contract

4. We request you to release the aforesaid sum and /or Articles / Property

in Deposit to the undersigned Smt. / Shri

Address:

(Name & address of person whom to pay/ handover) on our behalf

without insisting on production of legal representations and you have kindly

agreed to do so on our executing an Indemnity as is herein contained and

on relying on the information herein given by us and believing the same to be

true.

5. In consideration therefore, of your having at our request agreed to pay the

entire balance receivable to the credit of the aforesaid account/ handing

over the Article/ Property in Deposit to the undersigned

(Name of same person whom to

pay/handover) we, the undersigned

((name of heirs & next of kin)

Name

Relationship

Address

and

(name of two sureties)

We hereby jointly and severally agree and undertake to indemnify and

keep indemnified, saved, defended, harmless you and your Successors and

Assignees for all times hereafter against all losses, costs, claims, actions,

demands, risks, charges, expenses, damages, etc. whatsoever which you

may suffer and or incur by reason of your at our request paying / handing

over as mentioned hereinabove to the undersigned

(name of same person whom to pay/handover)

the aforesaid balance of Rs.

to the credit of the aforesaid

account / Article/ Property in Deposit without insisting on production of

legal representations. Yours faithfully,

NAME OF HEIRS & NEXT OF KIN SIGNATURE & DATE

NAME OF SURETIES & SIGNATURE & DATE

ಮುದÎಕರು ²ಾಗೂ ಪÎಾಶಕರು:- ಸಂಕಲ£ಾĩಾĸಗಳ…, ಕ£ಾಟಕ ªಾಜÍಪತÎ, ಸಾĸ ೇಂದÎ ಮುದÎžಾಲಯ, ¦ೆಂಗಳˆರು

R.N.I. No. KARBIL/2001/47147 POSTAL REGN. No. RNP/KA/BGS/2202/2017-19

Licensed to post without prepayment WPP No. 297

P S BASAVARAJU

Digitally signed by P S BASAVARAJU

DN: c=IN, o=Centre for e-Governance, 2.5.4.20=5a92775953e06196db55a8e9436c5ce46372fb04852626c1953468548e18163f,

ou=Department of Printing Stationery and Publications,CID - 7113982, postalCode=560001, st=Karnataka,

serialNumber=b7429a87a8e44802386702411c902124eb854aec60c6b3a22d9da33f77076720, cn=P S BASAVARAJU

Date: 2026.08.31 17:27:38 +05'30'