Give and take wrorld vs competent authority under BUDS — 5687/2025

Case Summary: 5687/2025 The court dismissed the petition filed by GiveNtake World and Prasanth Panachikkal seeking release of attached vehicles and defrozen bank accounts. The court found prima facie evidence that the accused operated an illegal pyramid scheme disguised as a digital platform, fraudulently collecting over ₹15 crores from numerous victims by promising unrealistic returns (up to ₹82,95,500) contingent on recruiting new members—constituting violations of the BUDS Act, 2019 and Prize Chit and Money Circulation Schemes (Banning) Act, 1978. Under Section 15(4)(b) of the BUDS Act, the court refused to release attached property unless sufficient assets remained for victim restitution; since no such alternative assets existed and irreparable harm to depositors would result, the petition was dismissed as devoid of merit. This case analysis is maintained by casestatus.in based on publicly available court records.