Summary Procedure Under Protection Of Depositors' Interest Act Self Contained, Plea For Rejection Of Plaint Not Maintainable: Karnataka HC

The High Court has held that an Order VII Rule 11 CPC application seeking rejection of plaint at the threshold claiming no cause of action, would not be maintainable in summary proceedings under Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004 (KPIDFE) Act.“The KPIDFE Act provides a self-contained mechanism, beginning from ad-interim attachment under...