Members of the Mylapore Fund Aggrieved Depositors Association are to hold a meeting at Rajarathinam Stadium in Egmore on Sept.21, 3 p.m. onwards to urge the state government to set up a fast track court and hear the long drawn cases against the promoter of the Mylapore Hindu Permanent Fund Nidhi Ltd.
They say the cases are dragging on and hundreds of depositors are suffering. “To our knowledge, some 40 people have died and many are suffering,” said K. Bhaskar, a core member of this association.
He said that the Fund’s MD, Devanathan Yadav who was arrested and been in jail, has been undergoing treatment at a T. Nagar hospital and keeps seeking more time for treatment.
Depositors say that a Court directive that Yadav deposit Rs.100 crores has been bypassed and not spoken about at all. “Instead, Yadav says he is ready to put some properties on sale to raise funds but those are worth only Rs.40 crores. He is trying to hoodwink us,” says Bhaskar.
Contacts of Assn: V. Harisudha; 9444154536 / K. Bhaskar ; 9566047517
