Online edition of India's National Newspaper
Wednesday, Jan 03, 2007
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Online edition of India's National Newspaper Wednesday, Jan 03, 2007 ePaper |
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Andhra Pradesh
Legal Correspondent
HYDERABAD: A Division Bench of the Andhra Pradesh High Court on Tuesday said that it was not granting stay of further proceedings proposed against Margadarsi Financiers as no affidavit was filed to support relief of stay. But the bench ordered notices on admission the writ petition filed by Margadarsi Financiers wherein the constitutional validity of Andhra Pradesh Protection of Depositors of Financial Establishments Act, 1999 was challenged. The petitioner complained that two GOs were issued appointing officers to conduct inquiry under this Act. It was contended that the Act is unconstitutional. The bench adjourned the matter to February 19.
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