Court : Chennai Madurai
..... defaults the return of deposits after maturity, or fails to pay interest on deposit or fails to provide the service for which deposit has been made, or (ii) where the government have reason to believe that any financial establishment is acting in a calculated manner with an intention to defraud the depositors, and if the government are satisfied that such financial establishment is not likely to return the deposits, or to make payment of interest or to provide the service, the government may ..... ''there is mushroom growth of financial establishments not covered by the reserve bank of india act, 1934 (central act ii of 1934) in the state in the recent past with the sole object of grabbing money received as deposits from the public, mostly middle class and poor, on the promise of unprecedented high rates of interest and without any obligation to refund ..... . furthermore, in view of the policy of the state which is to secure the interests of the depositors by enactment of the act namely, tamil nadu protection of interests of depositors (in financial establishments) act, 1997, the appellant cannot set up a plea of bona fide purchaser ..... before the petitioner purchased the property by way of a sale deed dated 11.08.2003 as stated above, one of the partners of m/s.hotel swagath filed w.p.5342 of 2001 before the principal seat, seeking to quash the aforesaid g.o.ms.no.1362, home (courts iia) department, dated 18.12.2000 issued under section 3 of the act, making interim attachment. .....
Tag this Judgment!Court : Chennai Madurai
..... the plead of the appellant/10th defendant that issurance of notice to the appellant/wakf board is a condition precent to the filing of the suit, this court points out that new section 89 (old section 56) of the wakf act, 1995, has not undergone any change and the notice under section 56 (new section 89) is analogous to section 80 of the civil procedure code and it prohibits the filing of any suit against the wakf board in respect ..... in the instant case, the court below while deciding the application for appointment of an advocate commissioner has stated that merely because and advocate commissioner was not appointed on the earlier occasion, the relief of injunction was not ..... the fourth respondent, one of the public trustees of first petitioner in his counter stated that no meeting of trustees was held and petitioner was not appointed as election ..... the petitioners except stating that no proper opportunity was given to them have not stated as to what opportunity was not given to ..... the fourth respondent in the counter stated that the public trustees were appointed by seventh respondent in the year 2010 including the fourth ..... second petitioner, who categorically stated in the counter that board of trustees met and by resolution appointed him as election officer, did not produce copy of the resolution and did not deposed before the ..... seventh respondent in the counter stated that second petitioner and respondents 3 and 4 were appointed as public trustees in the year 2010 for a period of three .....
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