IN THE HIGH COURT OF JUDICATURE AT MADRAS
N. SATHISH KUMAR, J
Mylapore Hindu Permanent Fund Investors And Depositors Welfare Association – Appellant
Versus
The State – Respondent
| Table of Content |
|---|
| 1. request for attachment due to financial default. (Para 1 , 3 , 4) |
| 2. background of mutual benefit society's operations. (Para 2) |
| 3. grievances regarding insufficient property attachment. (Para 5 , 6) |
| 4. court's directions for action by respondents. (Para 7 , 8 , 9 , 10 , 11) |
| 5. outcome of writ petition with directives. (Para 12 , 13) |
ORDER
This writ petition has been filed seeking a direction to the first respondent to consider the representation of the petitioner dated 18.10.2025, requesting for ad interim attachment of the properties under Section 3 of TNPID Act 1997.
2. The 8th respondent, Nithi Limited, is a mutual benefit society established with the object of encouraging savings among its members and providing loans based on member deposits for over 150 years. In the year 2017, the 5th respondent assumed position of Managing Director, along with certain other members, including the 6th and 7th respondents, who had joined the management in 2015. They assured the depositors a high rate of interest, and relying on such assurances and the long standing name of the society, several depositors invested around a sum of Rs.600 Crores through various cumulative fixed dep
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