Confirmation of Attachment by the Designated Court under BUDS Act
The delay in filing application for confirmation of the provisional attachment of property by the Competent Authority, under Section 14(1) of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019 (BUDS Act), to the Designated Court cannot be condoned, as Section 5 of the Limitation Act is not applicable to the Section, says the High Court of Kerala, in paragraph 19 in the judgement in Highrich Online Shoppe Private Limited v The Competent Authority.