Depositors of Alwarpet Benefit Fund (ABF) which has its central office in Alwarpet are to get yet another instalment of money they had invested in a company that got into problems many years ago, rendering thousands of depositors blank.
A note from T. Venkatachalam, Jt. Commissioner ( appointed by the Madras High Court) who now manages the repaying says ‘cheques towards the 15th instalment of 5% of the principal amount subject to a minimum of Rs.1000 to savings, recurring and fixed deposit holders will be issued from August 29.’
All cheques will be sent by courier and depositors are asked not to visit the ABF office.
ABF office asks account holders who have moved residence or made changes in their bank status to inform the office by post, with support documents.
ABF is at 40, C. P. Ramaswamy Road, Alwarpet. Ph: 24993994 / 24994062