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Judgment Search Results Home > Cases Phrase: tamil nadu protection of interests of depositors in financial establishments act 1997 Page 1 of about 71 results (0.033 seconds)

Sep 08 2000 (HC)

M/S. Thiru Muruga Finance Rep. by Its Partner Sri V. Thirunavukkarasu, ...

Court : Chennai

Reported in : 2000(2)CTC609

..... order1. all these writ petitions challenge the constitutional validity of tamil nadu protection of interests of depositors (in financial establishments) act, 1997 (tamil nadu act xiv of 1997). hence, they are dealt with in a common judgment.2. for the convenience i shall refer the facts narrated by the petitioner in writ petition no.4157 of 1998. the ..... anything previously done under that rule or notification.'11. in exercise of the powers conferred by sub-section (1) of section 15 of the act, the governor of tamil nadu has made the rules called tamil nadu protection of interests of depositors (in financial establishments) rules, 1997 (hereinafter referred to as the 'rules').'rule 3. ad-interim order and examination of the complainant and witnesses. (1) the government shall pass the ..... their funds in instalments. but, few persons who are highly mischievous have given complaints to the second respondent, who threatened to take action under the tamil nadu protection of interest of depositors (in financial establishments) act, 44 of 1997 (hereinafter referred to as the 'act') it is further stated that, he is a honest businessman and also having assets worth several crores. if action taken on frivolous complaint by the .....

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Mar 02 2007 (HC)

Mrs. S. Bagavathy Vs. State of Tamil Nadu, Rep. by Its Secretary, Law ...

Court : Chennai

Reported in : 2007(2)CTC207

..... competency of the legislature or rationalising court's power to annul the legislation.with this, we propose to experiment, analyze, and render our observation on the constitutional validity of the tamil nadu protection of interests of depositors (in financial establishments) act, 1997 (for brevity, 'tamil nadu act'), which, in fact, had already been upheld by the learned single judge of this court (p. sathasivam, j.) in thiru muruga finance v. state of ..... , started growing. finding no effective remedies available, in the existing legal system to safeguard the grievance of innocent depositors, the state government, enacted the tamil nadu act.2.2. the sole object of the tamil nadu protection of interests of depositors (in financial establishments) act, 1997 is to curb the mushroom growth of such financial establishments, which were grabbing money received as deposits from the public, on false promises for exorbitant and unprecedented high rate ..... the test of reasonableness and does not violate articles 14, 19(1)(g) and 21 of the constitution of india, and the principles of natural justice?'a) the tamil nadu protection of interests of depositors (in financial establishments) act, 1997.(a) objects and reasons(b) definitions under section 2(c) attachment of properties by competent authority under section 3(d) statutory offence and penalty under sections 5 and 5a .....

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Oct 31 2011 (HC)

P.Ponnusamy Vs. the District Consumer Disputes Redressal Forum and ors ...

Court : Chennai

..... use of such technical pleas to get over their legal liabilities and in returning the amounts back to the consumer / depositors. this court do think that there is any real conflict exists between the consumer protection act, 1986 and the tamil nadu protection of interest of depositors and financial establishment act, 1997.16.further, in the present case since notice only been ordered in the execution petitions and nothing prevents the petitioner ..... from contesting the execution application failing which, avail the remedies by way of appeal under section 27-a of the consumer protection act.17.in view of the above ..... nullity, then the remedy under article 226 is available. it is no doubt true that the state had enacted law i.e., the tamil nadu prohibition of interest of depositors and financial establishment act, 1997, providing for a speedy recovery of amounts from the defaulting financial establishments. it not only provides for prosecution of offenders, but, also provides for attachment and recovery of the amounts converted into different properties. when .....

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Mar 05 2008 (HC)

P. Venkatesan Vs. the State of Tamilnadu Rep. by Secretary to Governme ...

Court : Chennai

Reported in : (2008)4MLJ211

..... - 84, comprised in r.s. no. 40/22 which was attached by way of an interim order of attachment under section 3 of the tamil nadu protection of interests of depositors (in financial establishments) act, 1997 (herein after referred to as the 'act').3. according to the petitioner, the property absolutely belonged to him. however, the second respondent competent authority/joint commissioner of land administration, without any order ..... being likely to claim any interest or title in the property of the 'financial establishment'. in this case, the petitioners' sale deed is dated 21.01.2004 and by that time, the final order - the legality of which had already been gone into by this court, was passed. under sub-section (3) of section 7 of the act, opportunity is provided to ..... before a final order is passed under sub-section (4) or sub-section (6) of the act. therefore it is clear that under section 7 of the act, the writ petitioners, being the subsequent purchasers, have no legal right to raise any objection before the special court. section 8 of the act enables attachment of property transferred by the financial establishment ..... any of the person having an interest in the property, .....

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Apr 03 2001 (HC)

Rajathi Vs. State

Court : Chennai

Reported in : [2002]108CompCas262(Mad)

a. ramamurthi, j. 1. petitioners a4 and a6 in c.c. no. 13 of 1998 on the file of the special judge under the tamil nadu protection of interest of depositors in financial establishments act, 1997 ('the act') chennai, have preferred the revision aggrieved against the orders passed in crl. m.p. no. 2 of 1999 dated 1-3-1999.2. the case in brief is as follows : ..... the petitioners filed a petition under section 239 of the code of criminal procedure, 1973, to discharge them from the case. act no. 44 of 1997 came into force ..... applicable.10. there is no dispute that the act came into force on 7-8-1997. this act was passed to protect the deposits made by the public in the financial establishments and matters relating thereto. section 5 reads as follows :'default in repayment of deposits and interests honouring the commitment.--notwithstanding anything contained in chapter ii, where any financial establishment defaults the return of the deposit or defaults .....

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Jul 09 2012 (HC)

N.Rosammal. Vs. the Secretary and ors.

Court : Chennai

..... .1.2002. admittedly, the said order came to be passed by the state government by virtue of the power conferred on the state government under the provisions of tamil nadu protection of interests of depositors (in financial establishments) act, 1997 (act no.44 of 1997). it was found out that m/s.southern finance and trading, southern textiles and southern jewellers, ambattur have committed default in returning the deposits to the ..... is mentioned therein, is no way connected with her property. the said venkatesan and his brother were accused in crime no.116 of 2001 registered under the tamil nadu protection of interest on depositors and financial establishments act (in short, "tnpid act"). it is stated by her that the venkatesan was not at all the owner and he is a third party to the property and on his statement ..... depositors. therefore, an interim order of attaching the money and other properties of the financial establishment was issued under section 3 by the order. the order lists out various properties allegedly belonging .....

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Sep 05 2005 (HC)

Shri Vijay C. Puljal Vs. State of Maharashtra and ors.

Court : Mumbai

Reported in : 2005(5)BomCR481; (2005)107BOMLR983; [2005]128CompCas196(Bom); 2005(4)CTC705; 2005(4)MhLj5; [2005]64SCL589(Bom)

..... submitted, addressed a letter to the chief secretary to the state government on 12th august 1998 requesting that a suitable legislation can be considered on the model of the tamil nadu protection of interests of depositors (in financial establishments) act, 1997. again it was submitted that a division bench of this court had in kirit somaiya v. sebi (1999) ii llj 223 and in securities and exchange board of ..... ) the state legislature has in the present case enacted a law which it was not competent to enact.36. the state legislation in the present case, namely, the maharashtra protection of interests of depositors (in financial establishments) act, 1999, is accordingly declared to be ultra vires. the petitions are accordingly allowed. there shall be no order as to costs.37. the issue as to whether the ..... constitutional validity of the maharashtra protection of interests of depositors (in financial establishments) act, 1999, forms the basis of challenge in this batch of petitions under article 226 of the constitution. these petitions have been placed before the full bench by the learned chief justice, in pursuance of a reference made on3rd september 2004 by a division bench. though the act has been challenged on several grounds .....

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Jan 10 2011 (HC)

V.Thirunavukkarasu Vs. Mrs.Shobana

Court : Chennai

..... after referred to as "the act"] ", the petitioner has come up with this contempt petition.2. the petitioner was doing the business under the name and style of ..... the case, it is worthwhile to refer to the salient provisions of the tamil nadu protection of interests of depositors (in financial establishments) act, 1997. sub-section (1) of section 2 of the act defines the competent authority as the authority appointed under section 4 of the act. section 4 of the act empowers the state government to appoint appoint one or more authorities for such ..... the tamil nadu protection of interest of depositors (in financial establishments) act, 1997 and the district collector of chennai on the allegation that she has disobeyed the order of the court dated 13.04.2010 in crl.m.p.no.1976 of 2009 in c.c.no.11 of 2000 passed by the learned special judge under the " the tamil nadu protection of interest of depositors (in financial establishments) act, 1997 [herein ..... territorial jurisdiction of that court for appropriate orders.9. section 5 of the act is the penal provision which states that notwithstanding anything contained in sections 3 & 4 of the act, every person responsible for the management of the affairs of the financial establishment shall be punished with imprisonment for a term which may extend to ten .....

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Mar 02 2007 (HC)

Ramgopal Estates Pvt. Ltd., Rep. by Managing Director K.S. Hemanth Kum ...

Court : Chennai

Reported in : 2007(2)CTC369

..... decision, with approval from panchayat union and district panchayat is mandatory. the panchayats must be empowered to invite experts & ngo's to assist in arriving a tamil nadu protection of interests of depositors (in financial establishments) act, 1997 conclusion. xxvi. district collectors are not the competent authority to hold a mock public hearing and then decide the coastal areas that need reclassification. xxvii. ..... till today the government of tamil nadu has not yet marked the high tide line but permitted project based markings by the public sector and private sector.xxviii. the ..... government, with an aim to improve the economic growth in the state by establishing major industries as an industrial policy, decided to set up a petrochemical park as early as 1997 at the cost of rs. 30,000 crores in the state of tamil nadu over an extent of 7155.95 acres of lands which are spreading over in ..... to the guidelines of the coastal regulation zone notified by the central government under the provisions of the environment (protection) act, 1986 and the rules framed thereunder, for the impugned area; nor there is any violation to the norms prescribed by the tamil nadu pollution control board;(ix) the publication of the notifications under section 4(1) of the .....

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Jun 14 2012 (HC)

J.Vijayan. Vs. R.Ruthirasekaran

Court : Chennai

..... that in case of attachment, the remedy open to the aggrieved persons is to move the appropriate court in terms of section 7 of the tamil nadu protection of interest of depositors (in financial establishments) act, 1997. the act also provides for compounding the offence under section 5-a. the judgment of the full bench came to be upheld by the supreme court and the supreme court held that ..... 27.12.2011 respectively purported to have issued under section 160 and 91 crl.p.c. and quash the same.common order1. these two writ petitions arose out of the tamil nadu protection of interest of depositors (in financial establishments) act, 1997. admittedly the two writ petitioners are borrowers from chromepet saswastha nidhi limited. since the said nidhi limited have not paid back the dues to the ..... in case of increased default of payment of the depositors, such an enactment is admittedly necessary for the authorities to recover the amount to pay to the depositors who .....

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