JUDGMENT :

The judgment and decree dated 28.10.2015 passed in O.A.No.84 of 2010 is under challenge in the present Civil Miscellaneous Appeal.

2. The Deputy Superintendent of Police, Economic Offences Wing-II filed an application under Section 8 of the TNPID Act for attachment of the property which was transferred with malafide intention so as to defeat the interest of the depositors.

3. The learned Additional Government Pleader made a submission that the Financial Establishment in question commenced their business in the year 2009 and they collected huge amount from the depositors and failed to return back the matured deposits as well as the interest. Thus, the Deputy Superintendent of Police received many complaints from the depositors and a criminal case was registered in Crime No.183 of 2010 dated 17.04.2010. The case was transferred to the Economic Offences Wing-II, Cuddalore on 04.05.2010. Further, another complaint was filed that was registered as Crime No.1 of 2010 on 08.05.2010. Accordingly, the case was numbered as C.C.No.04 of 2012. 168 depositors have deposited their hard-earned money. The amount defaulted by the Financial Company is about a sum of Rs.2,39,23,000/-.

4. The l