Akshaya Centres Not Meant To Create Unauthorized Wealth, Authorities Should Take Action To Prevent Proscribed Financial Transactions: Kerala HC
Live LawThe Kerala High Court has stated that authorities should step in and take action if any person uses Akshaya Centres to enter into illicit financial transactions and create unauthorized wealth and illegal gains, contrary to public interest. The petitioners had approached the Court challenging the orders issued by the District Collector and the Director of the Akshaya Project for the cancellation of the licence of Akshaya Centre alleging illegal financial transactions. Verdict The Court found that when the exiting licence acts illegally to enter into prohibited financial transactions in connection with his licence of Akshaya Centre, the authorities can take action in accordance with law. The Court noted that the transactions were illegal, “the conceded payment of Rs.3,40,000/- to …… by ……, surely can only be found to be an illegal transaction, at least qua the terms of grant of licence for 'Akshaya Centres'; and hence, I cannot find fault with the impugned orders at all.” Accordingly, the Court dismissed the writ petitions and upheld the orders issued by the authorities in cancelling the licence of petitioner no.
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