@CMofKarnataka@JCMBJP@Lolita_TNIE@thejaram92 Kindly refer Association's petition dtd 15/12/20, Ref. No. 2039631 & File No. LAW-LCE/5/2021-ADMN1-LAW SEC and amend the KPID Act 2004 to protect the attached assets of #dreamzgkfraud from open loot as govt amends it for IMA victims
@CMofKarnataka@BSYBJP@JCMBJP @csogok @Karnataka_DIPR@Lolita_TNIE Kindly refer association's representation dtd 15/12/20 and amend the KPID Act 2004 to protect the attached assets of Dreamz Infra & TGS from other court orders & open loot as govt is amending it for IAM victims.
@DreamzgkA@Lolita_TNIE@thejaram92@Lolita_TNIE@thejaram92 Multi-Crore Scam by Dreamz Infra. New turn in PIL Proceedings filed by DIWA Association. Karnataka High Court to decide : #Dreamzgkfraud case will go to NCLT or Spl Court.
Chief Justice will hear both the parties on 25th November. Thanks to both Madams🙏
@DreamzgkA@Lolita_TNIE@thejaram92 Assets not sufficient for refund and resolution not possible in Dreamz Infra case. After deducting CIRP Cost & Liquidation cost, only peanuts will be left for investors under NCLT.
More than one year passed but yet Resolution Professional is not having any resolution plan.
@DreamzgkA@Lolita_TNIE@thejaram92 On 4/9/20, NCLT dismissed all the IAs filed by Resolution Professional because he filed case against the investors who failed to contribute. He raised several issues before NCLT which fall in the jurisdiction of Civil Court.
@DreamzgkA@Lolita_TNIE@thejaram92 KPID Act gives power to the state govt to attach the personal assets of directors & employees. Also, KPID Act gives power to the Special Court to recover all the transferred assets from the transferees. Thus, it is a powerful Act.
@DreamzgkA@Lolita_TNIE@thejaram92 KPID Act gives power to the state govt to attach the personal assets of directors & employees. Also, KPID Act gives power to the Special Court to recover all the transferred assets from the transferees. Thus, it is a powerful Act.
@DreamzgkA@Lolita_TNIE@thejaram92 DreamzGK Investors Welfare Association filed PIL to protect the interests of all the #Dreamzgkfraud victims but Resolution Professional appointed by NCLT filed objection in PIL to protect his own interests.
@DreamzgkA@Lolita_TNIE@thejaram92 KPID Act gives power to the state govt to attach the personal assets of directors & employees. Also, KPID Act gives power to the Special Court to recover all the transferred assets from the transferees. Thus, it is a powerful Act.
@Lolita_TNIE@thejaram92 Multi-Crore Scam by Dreamz Infra. New turn in PIL Proceedings filed by DIWA Association. Karnataka High Court to decide : #Dreamzgkfraud case will go to NCLT or Spl Court.
Chief Justice will hear both the parties on 25th November. Thanks to both Madams🙏!