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2023 DIGILAW 1493 (MAD)

Real Estate Kolumatthai Pathikkapatta Muthalettalar Nala Sangam, Represented By its Secretary R. Dhakshinamoorthy, Chennai v. Secretary, Local Administration Department, Chennai

2023-03-30

S.M.SUBRAMANIAM

body2023
JUDGMENT (Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the first respondent to attach the immovable properties given in Schedule to the writ petition in compliance with the provisions of Section 3 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997.) 1. The Writ of Mandamus has been filed to direct the first respondent to attach the immovable properties given in the Schedule to the present writ petition in compliance with the provisions of Section 3 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. 2. The petitioner is a Real Estate Kolumatthai Pathikkapatta Muthalettalar Nala Sangam. 3. The grievance of the writ petitioner-Sangam is that their members have invested their hard earned money with the Financial Establishments and the said deposits were not repaid and actions were initiated. However, the Members of the petitioner-Sangam are unable to get back their money for a long time. 4. The learned counsel for the petitioner-Sangam states that the Government has not taken effective steps to attach the property under Section 3 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. Thus the petitioner-Sangam is constrained to move the present writ petition. 5. The Status Report filed by the Competent Authorities/ District Revenue Officer reveals that several actions were already taken to realise the money and some of the properties were already sold through public action. Consistent actions are initiated in order to repay the money to the depositors. 6. The relief sought for in the present writ petition is to attach the properties under Section 3 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. If at all some more properties are to be attached in respect of the Financial Establishments, the petitioner-Sangam has to provide all such information to the Competent Authorities and to the Special Court concerned for the purpose of redressal of their grievances. 7. Under the provisions of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997, both the Competent Authorities and the Special Court have powers to deal with the properties. Thus the petitioner-Sangam is at liberty to approach the proper Forum for the purpose of redressal of their grievances. 8. With the abovesaid liberty, the writ petition stands disposed of. Thus the petitioner-Sangam is at liberty to approach the proper Forum for the purpose of redressal of their grievances. 8. With the abovesaid liberty, the writ petition stands disposed of. However, there shall be no order as to costs.