{"id":136727,"date":"2009-02-11T00:00:00","date_gmt":"2009-02-10T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/ms-arthik-credit-and-vs-shivarama-poojari-so-rama-on-11-february-2009"},"modified":"2015-04-23T12:45:06","modified_gmt":"2015-04-23T07:15:06","slug":"ms-arthik-credit-and-vs-shivarama-poojari-so-rama-on-11-february-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/ms-arthik-credit-and-vs-shivarama-poojari-so-rama-on-11-february-2009","title":{"rendered":"M\/S Arthik Credit And … vs Shivarama Poojari S\/O Rama … on 11 February, 2009"},"content":{"rendered":"
Karnataka High Court<\/div>\n
M\/S Arthik Credit And … vs Shivarama Poojari S\/O Rama … on 11 February, 2009<\/div>\n
Author: B.V.Nagarathna<\/div>\n
=;i%i\u00a7.\u00a3'u'.;%'\u00a7_Li.ZEiL3iL38 arm? \u00a7\u00a7\"i2.2C\u00e9{%8 <;:.w .'$13.2{){}\u00e9E\u00a7\n~:\n.. i ..\n\nIN Tlriiil HIGH UOUR' 1' OF' KAi<NA'l'AKA AT B\ufb01\ufb01i\ufb01i\ufb01biiiihi\n\nvamp was THE 1 1TH ma' 0:? FEBRUARY.,m2d0\u00a7"L;'-.T:.,\n\nBEFORE\n\nTHE m.}:~4*m,z:; M;<s.aus'1'1c.L;'B.\u00bb*J.mA--\u00a7;A;\u00a7}r\u00a7i\u00a5\u00a7i_NAv  V'\n\n(;;
0\u00a7 V    \nIN CRP.NO.311[2098  A    ._ \nnmwmm: \n\n1 M18 AHIHIK CREL\u00a71fi\"A'\ufb01~l_1\u00a7*\u00a7\u00bbNVb3S'i.'Mii1N'iS{H)\nNAVUNDA, KuNDg_a?UR Tg_%1,1JI--{\"'~  \" ;A .. \nREP. BY ,IfF3.__MANAGrm'} 'PARTNERZ. \"\nSR}. K. as: .S\u00a7i}B'I'H}%'JKF;\u00a7viA Am{;~A= \n\nAGE; \u00ab:35 .}'i\u00a7-,,&.i\u00a7;'S'   * \n2 Axggg\u00e9x\nis\/0 'msc, KRv:sim;A,Au1GA\n:':'_xGE:'55\"'fEAARS_  M %\nA V .  P:\u00a71';':'10r\u00a2:::1-5:5\n\n(B31 Si~i:.1\u00ab; M ma%;*A1w, ADV.)\n\nA _   s\u00a7i'1xfA2\u00a7Az9:A mmam S\/(J RAMA POOJARI\n\n 56 YEARS\n (}UL*.BIMANE\n.. M,ARAVAN'l'HA VILLAGE AND P031'\nKUNDAPUK TALUK\n\n SR! M v SATHISH as\/\u00ab:3 M V\u00a7s3NKA'!'A me\nwe NEGiLON\u00a5\nHOSANAGAR TALUK\n\n{*3\n\n3 SR! P\u00ab\u00a5\u00a3\u00a7.Rz%\u00a5Ai\\iA P1} R\ufb02f\ufb02iii S] (}!.;ATtf3 PARAMESHWARA\nPURANIK )\nR15'? KCILLUR VILLAGE\nKUNDADUR TALUK\n\n \n\n\n\n:;?}{i\u00ab'.?x%0.3L\u00a7}.2{}{28 C.W 312.2-fC30i=3 e:'..w \n.. 2 ..\n\n-4 SR1 K BALACHAN DRA BHIDE\nSIC) LA'i'1:\u00a7 A.K. BHIDA\nRf\ufb01f' KOLLUR VILLAGE\nKUNDAPUR TALUK\n\n5 SR! PSKIDHAK RAG\ngm 9*, ?#;%A%%:%-55% E-<.fA(}\u00a7\u00a7}A   -\ni'*'\u20ac}i3\u00a7'\u00a3 &;\ufb011.':$'i'H\u00a7.E%'A \nt\u00a7E.}%.\u00e9Pi '\u00a7'ALUK\n\n5 SM'? SHANMA M :<A0 ._ "- V\n3510 PARAMESHWARA PURRNIK\n\nwe\n\nSM!' SHANTHA 591'm:B.3Ax'  , V \nw\/() H MADiiAVA--\u00a7~i1!;.i:i\u00a75A%s'. ;   .. \nMARAVANTHE VILLAGEAND  \nKUDNAP:,:.3TALui<*'\u00bb--3 ' " * "\n\n8   t;_\u00a7;5'1' 'v\u00a7?]'{)" M V BHAT\nMARAVA1'\u00a3TH.E'..E'iL3g\u00a3.GE rm\u00bb pus'?\nKV_DN5P'~'R-:;T5L'VK_  " Z\n\n9 SM1' v1..;m;:{A_ SEVIBRAHMANYA\nw1;0_:-:.:;; !dRA*I~1M:1N'Y.A'if v\nMAJOR 2 "Q \nR 1 iAL C-DU HTS\nARE CONSTITUTED UNDER THE I3RC3VlQI()N9 013' THE\n\n \n\n\n\n i~\"iLI:},L) u\/3.115 my (3943. AGAINSI' '2'!-113;\n\n JuDG\u00a7:,__ {JR.E)N.) KUNDAPUR, HOL-DING THAT, THE surr IS\n \"?JiA.\u00a7NTAiN\ufb018LE AND 'THIS coum' HAS JUR:stz:<::i'z'0N T0\n= _ *i'j<'t\u00b0';'}'Hb) Sim', umwss AM) UN'l'iL THE SPi}(3iAL (;<;u:{';':s:\n\n"-ARE CONSTITUTED UNDER THE PROVISIONS OF' THE\n\n' V' "IN FINANCIAL l3}.'5'FABLlSi~iMEN'l' AC1'.\n\n\u20ac;Ti<1\u00a75\u00ab'.3\\Jc:\u00bb..3Li\u00a7..;?Z-iL1{3%Z< 43.1\u00bb; .3;i;\u00a7f.\u00a3f{3{}8 s:;t.:\u00bb5 \u00a7$i3.;\u00a7.'<f}{\u00a78\n\nA\n..... 'E ..\n\n63 SMT SHANTHA M RAG\nwe PAKAMHLSHWARA ms 1<aN;1A::,.;n< s:r~:::a"vm3~'r'. \n\n10 1M;{ Y 1RJ5":.ng;.4_A:;fvi\u00ab\n\n"'$[U SE\u00a7.A1%~F<'E '-\n\u00bb ' }{ASARG('f)I). fifAI;UK\n\n RESPONDl:}N'1'S\n\nC)RDER~ ~DA\u00a3i-'1A'ED 24.07.2088 PASSED ON PRELIMINARY\nISSUE"'iN (.}S.N().190\/2007' 0!\u00bb! THE FILE CJF THE PRLJEIVIL\n\nKARNATAKA PR'C}TECTIC}N OFINTEREST OF DEPOSITORS\n\nIN CRP..l'iO.3 13\/ 2008\nBETWEEH:\n\n1 M13 PsR'\u00a3'HiB'. C\u00abk<'.i:}L)i'I' Afii) lNViiZ$'i'Mi5}i'<E'\u00a7'SfR)\nNAVUNDA, KUNDAPUR 'TALUK\n\n\n\n  :;\u00e9;R1-3: BALACHANDRA BHIDE\n\n \u00a32\u00bb SMi*S1r~1AN'1'iriA M mu\n\n{I\u00a7<3:*.fx2.;3L\u00a3L\u20ac.2{}{}8 c:..'vi \u00a7$l2.2GG8 <":.w' 313.2_'{208\n\nU'?\n\nREP. \ufb01Y ITS MANAGING PARTNI3}i{\nSR1. K.'N'St$b$'l'HARAMA RDiGA\nAGE; 55 YEARS\n\n2 MR K. N s::;1:r1*HA;<AMA ADIGA\nSm rm. KRISHNA ADIGA\n\nAGE-2:55 YEARS     \n  \u00ab_  P?'f\u00a3:'.IfIT1{)_N'ERS"'.\n\n(By Sri: K M NA"l'ARA.J, Ai)V.T}\nARE:\n\n3 AMITA 1:.;1L;.,Avp~.-_ \u00ab -.    \nMINOR mgr. BY ms N;f\u00a51'L;%{A1\u00a2_'{.}BARDlAN\nAND 1\u00ab-'A:1'Hi;:~2    \nANi'\u20acAYYA__M BILLA.Vg'ag V\nAGED \u00ab$2:-.YEAR$ '\n\n2 swig-M i:4\u00a7\u00e9.':*\u00a7--;2is:a  .:.f;''\/\u00bb:; M' \\\u00a7;*S\u00a3\\\u00a3&<:A'l'A mo\nR\/o.1\u00a7JEi_cng3Lor&:'  \u00ab_  '\n,iH@SA\u00a5;A{;@~;\u00a72..TALU_K \n\n3 7Si~2\u00a7 N.'sRA\u00a5n..NA\u00bbP%Ls;Ac;E\n. _ KUNIEAPUR,'-TAL-UK\n\n _ _s;gu._L'Af1*b; AJ-<.. as-una\n" T. _\u00a32gAf1'" KGLLUR VILLAGE\n\u00ab K:}_:qp:g?'UR TALUK\n\n5- 331-?' SREDHAR mo\n~~ V359 9. sumsa mama\nms'? SASTHANA\n{mum TALUK\n\nI)\/O PARAMBSHWAKA PU KANIK\nSIG P. SUBBA FEAOIDA\n\nPOST SASTH\ufb01NA\n\nUUUPI TALUK\n\n7 SMT SHANTHA M HEZBESAR\nW]() H MADHAVA HJSLBBAR\n\n\n\n\u20acj\u00a7{E.f\u20ac\u00a32.311.E3{3GE\u00a7 CA\u00bb? 5'_\u00a51L\u00a33.Cii3{\u00a78 C,i.W 3fi3.;\u00a7jQ{\u00a78\n\n_\u00a7_\n\nMAi\u20acAVAN'l'H E} Vi3...i.sAGb3 AN 1) POST'\nEU DNAPU R TALU K\n\n3 SM!' MAHALAKSHM1 v BHAT w \/0 M v    \nMARAVANTHE VILLAGE AND POST   '\nKUDNAPUR TALUK    :\n\n9 Sm' VLJAYA SUBRAHMANYA'. '\nw,\/A0 SUBRAHMANYA Pr'-K '\nMAJOR ' \nR\/0 JATHABETTU MUTH-\u00bb \nPOST: UPPUR    =\nUDUPI TALUK ANIADIST. _  .,\n\n10 MRYH'i'h}JAS\\fl   2  \n5\/ 0 SHANAiiARA\u00a7\u00a7\u00a3\ufb01RAYAN"A_Vi-:$HA'i' ., " \nR10 YELKISNA i~I(JU:"s'\u00a7E\nP03;-'z MA1R\u00a3'--~.. .  iii    7'\n:<AsA':2aG\u20ac=i:2:,TAL;5KV"'-- ~\n\n RI:f}SP{)Ni)}:.IN'FS\n\n'nms 6:161-PFlLh?_D"~--._U[S 115 or' 'i'Hi:) ewe; 1908.\nAGAENST  "ORDER mt 24.7.03 PASSEQ ON\nPRELIMINARY-\u00bb\u00a7SS'UE em as N0.192\/07 on THE FILE OF\n'I'!~,{'E"'\u00ab:.P:R_I;. \u00a7:IvzL"'JI,\u00a3pGE, (JR.I}N}, KUNDAPURA, HOLDING\n\n"""rH;=&*i.' "#9112: 53.13:? 13 MAINTAINABLE AND THIS CGURT HAS\n '-J{}'i%3Si)j{.\u00a3?f"i\u00a7)?~:.__'i'{) we\u00bb: '1'm\u00ab; sun' urmsss AND uzmu.\n'l'H-ii} ':sm::g;'1AL.wr:.<3u:\u00a21\u00a7:; ARE (3()NS!'l"l'U'l'ED umnsae 'ma;\n\nk--"1<ev1:s:u\u00a7q:i;f;= my 'l'Hi:f2 KAi\u20acNA'l'A.KA PRO'i't$C'l'l()N 0:4'\ntn';-%\u00a7;:::;posrm1<s m - HNANCIAL\nES'i'A\u00a7:iL!f:3HMh}N'i' AC!' 2004 AND wmm 'me: PRUViSi\u00a3_)NS\n\n my i1'm:;__ :1-mu) AC!' IS INVOKEL}.\n\n These CRPS coming on for ADMISSIUIQ 01:1 this day,\n\n  delivered the fo\u00a3Iowing:~--\n\nORDER\n<\/pre>\n
“l’h\u20ac:se revision pc\ufb01tions raise a common and itieuticai<\/p>\n
identical question against the oxtictr dated i34.7.2(K)8 made<\/p>\n
by the trial court on a preliminary issue on the:<\/p>\n
C:\n<\/p>\n
&
\nC?\n<\/p>\n
54<\/span><\/p>\n
\n‘LL’\n<\/p>\n
5.”:\n<\/p>\n
{an
\ni’
\nC?\n<\/p>\n
C
\n‘K-\n<\/p>\n
\u00a7k$.Na.3\u00a7i.2$G8 c.w 3i2.2″\u00a7’
\n.. E.\/\u00e9 ._
\nthe Speciai Courts have not yet been constittlted under the<\/p>\n
said Act. Being aggieved by the said i . on<\/p>\n
maixltainabiiity, the defendant has pxeferredf:  4_<\/p>\n
peti\ufb01ons.\n<\/p>\n
4. % have heard S1i.i{.M.Natavi:aj,::’it;s:;t7t1\u00abe{i’  .<\/p>\n
petitioners. _ ‘V V _ V H V\n<\/p>\n
5. He submits that the  ” of Interest<\/p>\n
9′-3 13\u20acP\u00b0Si’\u00b0rS 311  2004 has
\nbeen enfomeci and  framed under
\nthe said Aet’  Eleuc-::L   ought to
\nhave   Speciai Court and not
\ni}efc}i’eA”Viii:\u00a3e.:  the trial court was not
\n    :31; respective suits; \ufb01lw by the
\nre\u00a7pon{ie1:t:sf;’were  He has dxawn my attention<\/p>\n
 1{}A5f*ih–e ‘Act, which speaks about the constitution<\/p>\n
V   Oi’  Court. He therefore, submits that the trial<\/p>\n
” . gem  get right in boiding that the suits filed 53; the<\/p>\n
resgaexgidents in the three revision petitiens were<\/p>\n
~  I\ufb01ia\u00e9izltainabie, as them is a bar on the maintainabi\ufb01ty of the<\/p>\n
 siiif. as per Section 9 ofthe C.%~'{,1, 3.908.<\/p>\n
:2\/\u00bb<\/p>\n
i.’R\u00a7’.f’\u00bb\u00e9e3._’%il.2<3{E8 <:.w \u00a7i1;\u00bb}1.Z\u00a3GOE\u00e9 23.3\u00bb: 3"\u00a7.3.2i}\u00a33'r3
\n_. g ..\n<\/p>\n
ti). ‘faking note of the above submission, the only-‘-.point<\/p>\n
that arise for my ooneiazietation ie as to whethe1*T7\u00a3he”L:’<\/p>\n
court was justi\ufb01eci in holding in the   <\/p>\n
maintainability of the suit.   ~<\/p>\n
7*’. Fmm a perusal of ~1;_nateA1.’i.ai_ \ufb01e  “it iS’*’<\/p>\n
apparent that the peti1:io13,e3r._VVV:A’i:ae;t*ei:rz1 is ” ‘  credit and
\ninvestment estab\ufb01sh1v11e:;f —     respondents are
\ndepositors Wi104’ika\u00a7.i  with the
\npetitioner      on the part of the
\n with interest, they
\nhad   for recovery of money. it is
\naiso to   Protec\ufb01on of interest {:11<\/p>\n
Deyesitam  .A  iilstablishment Act, 23534 has<\/p>\n
 ” a.ssent”ef the President of India on 14.12.2003,<\/p>\n
   \u00a7ic.\u00a7\u00a7;esg;\u00a71?; said. Act has to be enibzteed oniy \ufb01em the<\/p>\n
date onvwhgie\ufb01 the State Government Weuid ne\ufb01fy. There is<\/p>\n
 ea me:’Eefia\u00a3 placed on reward as to Whether the said Act has<\/p>\n
 bee\ufb01fenfoteed by a noti\ufb01catien by the State Government.<\/p>\n
‘   Be that as it may, under Section 10 of the Act, unieee<\/p>\n
the State Gevemment with the concurrence ef the Chief<\/p>\n
Justice of the High {jouri of Karnataka \u00a333,’ rnofi\ufb01ea\ufb01on<\/p>\n","protected":false},"excerpt":{"rendered":"
Karnataka High Court M\/S Arthik Credit And … vs Shivarama Poojari S\/O Rama … on 11 February, 2009 Author: B.V.Nagarathna =;i%i\u00a7.\u00a3’u’.;%’\u00a7_Li.ZEiL3iL38 arm? \u00a7\u00a7”i2.2C\u00e9{%8 <;:.w .'$13.2{){}\u00e9E\u00a7 ~: .. i .. IN Tlriiil HIGH UOUR' 1' OF' KAi<NA'l'AKA AT B\ufb01\ufb01i\ufb01i\ufb01biiiihi vamp was THE 1 1TH ma' 0:? FEBRUARY.,m2d0\u00a7"L;'-.T:., BEFORE THE m.}:~4*m,z:; M;<s.aus'1'1c.L;'B.\u00bb*J.mA–\u00a7;A;\u00a7}r\u00a7i\u00a5\u00a7i_NAv V' (;;0\u00a7 V IN CRP.NO.311[2098 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-136727","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"\nM\/S Arthik Credit And ... vs Shivarama Poojari S\/O Rama ... on 11 February, 2009 - Free Judgements of Supreme Court & High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/ms-arthik-credit-and-vs-shivarama-poojari-so-rama-on-11-february-2009\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\/S Arthik Credit And ... vs Shivarama Poojari S\/O Rama ... on 11 February, 2009 - 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