HYDERABAD: Ruling that Margadarsi Chit Funds must bear the expenses related to the publication of notice advertisements issued to inform subscribers, a bench of the Telangana High Court on Thursday directed the Registry to provide the specific cost details to the petitioner. Margadarsi was directed to deposit the amount within seven days of receiving the information.
This ruling follows ambiguity from an earlier directive in which the court instructed the Registry to issue advertisements seeking details of subscribers, but it was unclear at the time who would be responsible for the associated costs.
The hearing, held on Thursday, was convened to clarify the issue, with the bench of Justice Sujoy Paul and Justice Namavarapu Rajeswar Rao making it clear that Margadarsi would be responsible for the expenses. The next hearing in the case has been scheduled for September 30, 2024.