CHENNAI: The Economic Offences Wing (EOW) has filed a preliminary chargesheet in the cheating case filed against The Mylapore Hindu Permanent Fund Nidhi Limited. A total of five persons have been arrested in the case so far.
Another man linked to the case is absconding. The proposal for ad interim attachment of property is being prepared. The arrested men are T Devanathan Yadav (64), R Gunaseelan (57) D Mahimainathan (53), P A Deva Senathipathy (63) R Sudhir Shankar (46). The absconding person is Solomon Mohan Doss.
Officials said they have received a total of 5,160 complaints in the cheating case involving Rs 586 core. Search had been conducted at 11 places and a sum of Rs 7.5 lakh, 180.09 grams of gold, 84.8 grams of silver, Rs 16.7 lakh in bank accounts, six four-wheelers and documents of immovable properties worth Rs 280 crore were recovered and shares to the value of Rs 173 crore have been identified.
The EOW registered a case against the company based on several complaints alleging default of deposit amount to depositors. The company had several schemes with interest rates from 10%, 10.5% and 11%.
Devanathan, chairman and MD of the company, unsuccessfully contested the 2024 parliamentary election from Sivaganga constituency representing the BJP-led NDA alliance.