S. B. SINHA, CJ, J. ( 1 ) THIS writ appeal is directed against a judgment dated 3rd July, 2001 passed by a learned single Judge of this Court. The appellants in the said writ petition prayed for a writ in the nature of mandamus declaring the action of the respondents in putting a seal to the ground floor portion of the premises bearing No. 5-9-22/106 and 5-9-22/106-A situated at Adarshnagar, Hyderabad as illegal, arbitrary, unjust and without jurisdiction. ( 2 ) THE basic fact of the matter is not in dispute. The petitioners purchased the property bearing No. 5-9-22/106 and 5-9-22/ 106a situated at Adarshnagar, Hyderabad under a registered sale deed through a special power of attorney of one Smt. S. Rama Devi. A sale deed was executed on 18-11-1999 and registered on 27-11-1999. A case under Section 420 of the Indian Penal Code was registered at Saifabad Police Station on 4-11-1999 and marked as Crime No. 514 of 1999 on the ground that the said Rama Devi acquired the properties which were alienated in favour of the petitioners out of the funds of the Chit fund. Furthermore, an order of attachment was passed by a civil Court as regard the aforementioned properties in OS Nos. 1495 and 1563 of 1999. The said suits were filed by several creditors. ( 3 ) THE learned single Judge has proceeded on the basis that the transactions entered into by and between the writ petitioner and their vendors are wholly illegal. The learned Judge has further held that as the petitioner s vendors had been evading arrest, the claim of the petitioner is illegal and the transaction entered into by and between the parties are not bona fide since the investors rights are defeated by reason of the said transaction. ( 4 ) MR. Suresh Kumar, learned Counsel appearing on behalf of the appellant submits that the provisions of Section 3 of the A. P. Protection of Depositors of Financial Establishments Act, 1999 (hereinafter referred to as the Act ) can be invoked only in the event, the property under attachment is a financial establishment within the meaning of Section 2 (c) of the Act. The said Act was enacted to protect the interests of the depositors of financial establishments in the State and for matters connected there with or incidental thereto. The said Act was enacted to protect the interests of the depositors of financial establishments in the State and for matters connected there with or incidental thereto. ( 5 ) SECTION 2 (c) of the Act defines Financial Establishment to mean: (c) "financial Establishment means an individual, an association or body of individuals or a firm carrying on the business of receiving deposits under any scheme or arrangement or in any other manner but does not include a company registered under the Companies Acl, 1956 (Central Act 1 of 1956) or a Corporation or a Co-operative Society owned and controlled by any State Government or the Central Government, or a banking Company as defined under Section 5 (c) of the Banking Regulation Act, 1949 (Central Act 10 of 1949) or a non-Banking Financial Company as defined in clause (f) of section 45-1 of the Reserve Bank of India Act, 1934 (Central Act II Of 1934)". ( 6 ) THE writ petitioner herein has produced documents to show that M/s. Veda Chit Fund Private Limited is a company registered and incorporated under the Companies Act, 1956. A bare perusal of the aforementioned provisions contained in Section 2 (c) of the Act would clearly goes to show that a company registered under the Companies Act, 1956 is excluded from the purview thereof. In this view of the matter, Section 3 of the said Act, in our opinion, cannot be said to have any application whatsoever to the facts and circumstances of this case. A Banking Company is defined under Section 5 (c) of the Banking Regulation Act, 1949 which reads thus: "banking Company" means any company, which transacts the business of banking in India; explanation :any company which is engaged in the manufacture of goods or carries on any trade and which accepts deposits of money from the public merely for the purpose of financing its business as such manufacturer or trader shall not be deemed to transact the business of banking within the meaning of this clause". ( 7 ) THE Banking Regulation Act, 1949 has been enacted by the Parliament and the said Act is a self-contained Code. Furthermore Chapter-IIIB of the Reserve Bank of India Act, 1934 contains detailed provisions relating to non-banking institutions, Receiving Deposits and Financial Institutions. Any violations of the said Act would be dealt with in terms thereof. Section 450 provides for a non-absente clause. Furthermore Chapter-IIIB of the Reserve Bank of India Act, 1934 contains detailed provisions relating to non-banking institutions, Receiving Deposits and Financial Institutions. Any violations of the said Act would be dealt with in terms thereof. Section 450 provides for a non-absente clause. ( 8 ) IN any event, the order of attachment had been passed by the civil Court. The writ petitioners therefore are under obligation to file appropriate applications for vacation of the order of attachment. Once such orders of attachments are vacated, the respondents herein would be bound to give effect thereto. In a writ proceeding, under Article 226 of the Constitution of India, this Court cannot come to a conclusion that the entire prosecution is void and/or such prosecutions have been entered into for depriving the investors from their legitimate claim as the same is pending consideration before the civil Court. ( 9 ) FOR the aforementioned reasons, we are of the opinion that Section 2 (c) cannot be said to have any application to the property in question and consequently Section 3 thereof could not have pressed into service. The writ appeal is, therefore, allowed with the aforementioned observations and directions. There shall be no order as to costs.