MADURAI: The Madurai Bench of Madras HC appointed retired Justice N Kirubakaran as the head of a committee formed to facilitate settlements of deposits made by the investors in the Parivar Dairies financial fraud case.
Justice B Pugalendhi passed the order while allowing a bail petition filed by two accused –Rakesh Singh Narwaria and Ahibaran Singh – in the case. According to the CBI, the duo cheated nearly 17,379 depositors and acquired a total amount of Rs 49,76,53,691 claiming high returns. The agency is conducting further investigation into the case.
However, the intervenors in the petition claimed before Justice Pugalendhi that the total number of depositors is 45,167 and the total maturity amount is more than Rs 222 crore. The judge had granted bail to the duo on the condition that they have to appear before the investigators and the aforementioned committee.
Justice Pugalendhi further added that the committee and its members can sell the petitioners’ assets and access the money in their bank accounts, which were seized by the authorities in Madhya Pradesh, and disburse the amount to the depositors.
HC orders notice on Udhayanidhi’s victory
Chennai: The Madras HC on Friday ordered issuance of notice to DMK youth wing leader Udhayanidhi Stalin, in a case challenging his election to the Tamil Nadu Assembly from Chepauk-Triplicane constituency. The petition was filed by ML Ravi, president of Desiya Makkal Sakthi Katchi, who had contested the polls from the same constituency. He alleged Udhayanidhi of having deliberately furnished false information on his criminal antecedents in his nomination papers and said it had affected the election. He wanted the court to declare the election results null and void.