Mylapore Hindu Permanent Fund: this is what some depositors are saying 

Mylapore Times has been receiving a stream of mails from people who say they are depositors and have their own stories to share.

Here are the latest –

(( )) Has any group been formed by depositors in WhatsApp or Telegram? If yes, please share the information in Mylapore Times, which would be useful to all. 

– Karthikeyan 

(( )) Depositors need to wait till June first week, by which time Dr Devanathan Yadav will hopefully sort out the issue.  The deficit is Rs 15 crores and the management claims it is committed.

– Dr. B. Ganesh

 (( )) My late dad made a huge investment in this fund trusting its past history. Our interest amounts are due for the past couple of months. With elections around and one of the directors contesting on a BJP ticket, there is bound to be pressure on the fund from external sources. It’s better if depositors don’t panic and start pre-closures of their deposits. 

– Senthil

 (( )) Has anyone contacted the Secretary or other key person in the Fund and got the reason for the present status of delayed payment of interest and refund of the matured and foreclosed deposits?
I am living in Bengaluru and unable to contact anyone in the Fund over phone as no one takes the call. My letter through email and sent through a registered post did not evoke any response from them.

– S. Muralidharan

(( )) This figure is a junk figure. The outstanding are many times more than 5 crores. the combined figure of deposits of myself, my two brothers, my friends itself is more than 2 crores. We have seen with our own eyes the many people who throng to collect interest. Interest outstandings are there for more than a month for many.

• T. Seshagiri

(( )) The Fund bosses have to clarify to those whom they failed to pay the monthly interest, will they pay extra. If we fail to replay even one installment they levy fine and charge extra interest. Similarly will the financial institutions do the same?

• Namasivayem