Park Town Benefit Fund
Ltd.
I. GIST OF THE CASE:
A criminal case was registered against the Chairman and Director of the company
by EOW II on 16.02.2001. The Honourable High Court of
Madras in its order dated: 26.07.2003 appointed Administrator (Special Officer)
Tr.K.Vadivelu Rtd., IGP to take over the management.
II.
ACCUSED DETAILS:
Totally 12 accused
involved in this case, namely 1. P.Balasubramanian,
2. R.Lakshman, 3. R.Vivekanandan,
4. Arulmozhi, 5. P.Ekambaram,
6. Sivakumar, 7. G.Ekambaram,
8. K.T.Shanmugam, 9. Gomathi
Sundaram, 10. C.T.Shanmugam,
11. Visalakshi and 12. Ramachandran
and no accused have been arrested as they are settling.
II. HIGH LIGHTS:
Cr.No.09/2001, U/s.409, 420, 120 (b) IPC.
Total amount involved in
the company: Rs.170 Crores.
Total no. of depositors:
2, 00, 000.
Total amount defaulted as
per Police complaints: Rs.9,47,85,947/-
Amount refunded:
Rs.9,09,58,922/- (1,797 depositors),
Balance amount to be
refunded: Rs.38,27,025/- (89 depositors),
Police complaints: Rs.9,
47, 85,947/- (1,886 depositors).
Settlement is in
progress.
IV. EFFORTS
TAKEN BY EOW:
1. Collecting the loan amount from
the borrowers and repaid 1,797 depositors out of 1,886 depositors.
V.
DETAILS OF PROPERTY:
A residential house and
Park Town Benefit Fund company building owned property of Chairman of the
company and 11 Directors houses and lands worth about Rs.10.92 Crores have been identified and proposal has been sent for
ad-interim attachment.
VI.Latest Development:
The High Court stayed the
case. Retired IG Tr. Vadivelu
was appointed as special deposit amount.
VII. REQUEST TO THE
DEPOSITORS:
For further information the depositors are
requested to contact
|
Tr.K.Vadivelu, Rtd.
IPS Officer, |
Tr.Ruthirasekar Investigating Officer |
VIII.
PRESENT STAGE OF THE CASE
The case was stayed by High Court, Madras. The
High Court appointed retired I.G.Tr.Vadivelu as
Special Officer and he is refunding the deposit amount to the depositors