Friday, 7 October, 2022
HomeIndiaHC relief to city-based finance co.

HC relief to city-based finance co.

Text Size:

Chennai, Jun 25 (PTI) The Madras High Court has directed the Economic Offences Wing (EOW) not to arrest till August 8, the managing director and other directors of Aarudhra Gold Trading Private Limited in Chennai, which had collected deposits running to over Rs 1,000 crore and allegedly failed to return the amounts back to the depositors.

It is stated that the DSP attached to the EOW had suo-motu registered the case without complaints from any of the depositors and froze its accounts lying with various public and private sector banks.

Justice G K Ilanthiraiyan ordered the defreezing of the bank accounts of the company to enable it to repay the amounts collected from the depositors before August 8. Until then they should not be arrested, the judge said while passing interim orders on a batch of criminal original petitions from the MD and other directors of the company seeking pre-arrest bail, recently. PTI CORR SA SA

This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

Most Popular