sat 1 wp 1191-2011 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL WRIT PETITION NO. 1191 OF 2011 M/s.Mangalmurti Auto Link India Ltd. ...Petitioner vs. The State of Maharashtra & Ors. ...Respondents Mr.A.M. Saraogi for the Petitioner. Mr.A.S. Gadkari, APP for the State. CORAM : B.H. MARLAPALLE & U.D. SALVI, JJ. JULY 20, 2011 P.C. :- 1 The petitioner is a company incorporated under the Companies Act, 1956, and is engaged in the business of providing cars on hire to the corporate sector as well as at the Airports. Considering the demand for such cars, the petitioner invited investments by way of deposits and also borrowed money from the banks/financial institutions. As per the scheme floated by the petitioner, a person was required to deposit a fixed amount with the sat 2 wp 1191-2011 petitioner company and in turn, the company would pay interest/profits so earned to such investors. It is also admitted by the company that because of certain fraud, its business has come to a standstill and it has not been able to refund the amounts payable to the investors by sell of the vehicles and by other means. FIRs have been registered against the company and its officers. It is, under these circumstances, the petitioner company prays for the following substantial relief :- “a. That this Hon’ble Court be pleased to issue appropriate writ, order and direction directing appointment of some fit and proper person to act as a Commissioner/Receiver to take charge in respect of the vehicles in the custody of the Petitioners as per the list of the vehicles annexed with the Petition, dispose of the same in the market as also to invite necessary claim of the respective investors in respect of the balance payment out of the principal amount paid by them and subject to verification of the same, discharge the liability of the company out of the amounts so received by disposal of the vehicles.” sat 3 wp 1191-2011 2 Mr.Gadkari, the learned APP has placed before us a copy of the Government Resolution dated 16th June, 2011. 3 In our considered opinion, the petitioner’s remedy would before by MPID Court under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 or any other subordinate court of competent jurisdiction. The relief prayed for, cannot be entertained in this petition. 4 Hence, the petition is rejected with liberty to approach the Special Court under the MPID Act or any other appropriate forum. (U.D. SALVI, J) (B.H. MARLAPALLE, J)