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Latest Judgement
- Thus the Full Bench has held that
- The field of legislation, viz, Tamil Nadu Act is traceable to entries 1 and 32 of list –I, besides falling under entries 1, 7 and 8 in the concurrent list.
- The impugned Tamil Nadu Act does not fall within the legislative field of the Union list [List –I ] and
- Though there is trenching, the same is only incidental, which is permissible in Law.
- Thus the Hon’ble Full Bench of Madras High Court held that the Tamil
Nadu Protection of Interest of Depositors { in financial establishments }Act 1997 does not suffer any legislative competency ; nor its provisions are arbitrary and unreasonable, violative of principles of natural justice; nor offends Articles 14, 19 (1) (g) and 21 of the Constitution of India.
Important Conviction
1.CHENNAI EOW-II Cr.Nos.16,17/98 U/s 5 0f TNPID Act
JSP Enterprises had cheated 2249 depositors to the tune of Rs. 39,53,500/-. In this case accused Manavallan was arrested and prosecuted. He was convicted and sentenced to under go RI for 10 years and fined Rs.1,00,000/-, by the Hon'ble Spl Court, TNPID, Chennai on 31.12.2000.
2. CHENNAI EOW-II Cr.No.1583/97 U/s 5 0f TNPID Act
Lakshmi Thangamaligai had cheated 125 depositors to a tune of Rs. 1,80,000/-. In this case accused Thiyagarajan and D.Nandakumar were arrested and prosecuted. They were convicted and sentenced to under go RI for 10 years by the Hon'ble Spl Court, TNPID, Chennai on 13.07.2001.
3.ERODE EOW-II Cr.No 01/2003 U/s 5 0f TNPID Act
A.S.Finance had cheated 7 depositors to a tune of Rs. 10,24,500/-. In this case accused Arumugam was arrested and prosecuted. He was convicted and sentenced to under go RI for 3 years for each counts and fined Rs. 75,000/- by Spl Court, TNPID, Chennai on 18.08.2005.
4.TRICHY EOW-II Cr.No 02/2002 U/s 5 0f TNPID Act
Maruthi Bearings had cheated 9 depositors to a tune of Rs. 7,82,000/-. In this case accused Ramamurthy was arrested and prosecuted. He was convicted and sentenced to under go RI for 10 years by the Hon'ble Spl Court, TNPID, Chennai on 06.09.2005.
5.VELLORE EOW-II Cr.No 212/1997 U/s 5 0f TNPID Act
Amirtham Finance had cheated 113 depositors to a tune of Rs. 42,07,500/-. In this case accused NandaGopal, Meera
& Sanker were arrested and prosecuted. They were convicted and sentenced to under go RI for 13 years and Fined Rs.50,000/- each in default to under go RI for another 6 months. by Special Court, Chennai on 06.09.2005
6.COIMBTORE EOW-II Cr.No 14/1999 U/s 5 0f TNPID Act
Andavar Finance had cheated 126 depositors to a tune of Rs. 79,12,330/-. In this case accused Periyadurai, Chinnadurai
& Devaraj were arrested and prosecuted. They were convicted and sentenced to under go RI for 5 years and fined Rs.49,80,000/- by the Hon’ble Spl Court, TNPID, Chennai on 19.10.2005.
7.CHENNAI EOW-II Cr.No 08/2000 U/s 5 0f TNPID Act
Maruthi Finance had cheated 93 depositors to a tune of Rs. 1,61,00,000/-. In this case accused Mugunthan was arrested, prosecuted. and was convicted and sentenced to under go RI for 5 years and fined Rs.69,00,000/- ,by the Hon’ble Spl Court, TNPID, Chennai on 09.03.2006.
8. KANNIYAKUMARI EOW-II Cr.No 01/2004 U/s 420 IPC
VJR Bankers had cheated 4 depositors to a tune of Rs. 6,64,734/-. In this case accused accused Joseph Raj was arrested and prosecuted. He was convicted and sentenced to under go RI for 5 years and fined Rs. 40,000/- on 14.03.2007 by Chief Judicial Magistrate, Nagercoil.
9. KANNIYAKUMARI EOW-II Cr.No 02/2002 U/s 420 IPC
Sri Murugha Finance had cheated 4 depositors to a tune of Rs. 4,08,000/-. In this case accused -Karthikeyan Pillai was arrested and prosecuted. He was convicted and sentenced to under go RI for 5 years and fined Rs.40,000/- on 29.03.2007 by Chief Judicial Magistrate, Nagercoil.
10. KANNIYAKUMARI EOW-II Cr.No 05/2003 U/s 420 IPC
SPS Bankers had cheated 10 depositors to a tune of Rs. 16,65,142/-. In this case accused Rajendran, Kandasamy, Alagappan & Sivarajan were arrested and prosecuted. They were convicted and sentenced to under go RI for 5 years and fined Rs.40,000/- on 29.03.2007 by Chief Judicial Magistrate, Nagercoil.
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