Case Law Analysis
|Bombay High Court
MPID Act | Residential Property Cannot Be First Target for Attachment When Other Assets Suffice : Bombay HC Upholds Right to Shelter
Bombay High Court rules that under the MPID Act, residential properties cannot be prioritized for attachment if other assets (e.g., a Rs. 302 crore hotel) sufficiently cover depositor dues. The judgment reinforces the proportionality principle and the right to shelter, setting a precedent for asset attachment cases involving financial fraud.