Properties can’t be attached by EOW: Spl court
TIMES NEWS NETWORK
Chennai:02.09.2021
Holding that the Economic Offences Wing (EOW) of the Tamil Nadu police is not a competent authority to attach properties, a special court has directed the district revenue officer (DRO), Chennai to deal with property attachment and sell the property of a financial firm and return the amount back to depositors.
The case pertains to a citybased financial firm which collected ₹2.5 crore from 129 depositors and shut the firm in 2008.
The prosecution said Senthil Financial Services promised people of high interest. A case was registered by the EOW and during the course of investigation, the residence of one of the accused in Virugambakkam was attached by the government and another property was sold to a third party to prevent being attached. After perusing the submissions, the special court to deal with the TN Protection of Interests of Depositors Act cases held that in order to protect the welfare of the depositors, the DRO, Chennai shall sell the mentioned property through public auction and distribute the sale proceeds to the depositors.
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