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Designated court constituted

Special Correspondent

Pondicherry: The Pondicherry administration has constituted a designated court to take cognisance of the cases under the Pondicherry Protection of Interest of Depositors in Financial Establishments Act, 2004. Health and Law Minister E. Valsaraj said in a release here recently that the Principal District and Sessions Judge of Pondicherry has been notified as designated court for handling cases under the Act. He said that M. Nakkeeran an advocate here has been appointed the Special Public Prosecutor exclusively for the court.

The Association of Pondicherry non-Banking Investors Protection urged the administration to constitute a designated court so that they would be able to get back their fixed deposits from a nidhi company now defunct here. President of the association A. Gandhiraj who led a rally of the depositors said that the Government should attach all the properties of the company as more than 13,000 depositors had not received their deposits reportedly worth Rs. 76 crores.

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