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Benefit fund to release fifth instalment to depositors

By Our Staff Reporter

CHENNAI, JULY 31. The Alwarpet Benefit Fund (ABF) will release the fifth instalment of five per cent of the principal amount to all depositors from September 24. The remittance will be subject to a minimum of Rs. 1,000.

Depositors residing in the city and its suburbs will receive cheques through Repute Express Courier while others will receive the cheques through Professional Courier, a release from S. Padmanabhan, commissioner of the Fund, appointed by the High Court, said. Those residing outside the city will be paid through payable-at-par cheques drawn on ICICI Bank at the respective centres. With this instalment, ABF would have repaid Rs. 35 crores to depositors.

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