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Andhra Pradesh
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Hyderabad
Margadarsi depositors' plea admitted
Legal Correspondent
HYDERABAD: Justice V. Eswaraiah of the High Court on Tuesday declared that the writ petition filed by the depositors of Margadarsi Financiers complaining against the action of the State Government will be heard along with the writ petitions filed by Margadarsi.
The judge was dealing with the writ petition filed by Parthasarathy representing the Margadarsi Financiers Depositors Protection Association.
The petitioners contended that the provisions of the Andhra Pradesh Protection of the Depositors of Financial Establishments Act (17 of 1999) cannot be implemented in the recent case.
They contended that the committee headed by N. Rangachary cannot take action in this matter and felt that they should be heard either by the committee or by the Government.
The judge admitted the matter and posted it along with the writ petitions filed by Margadarsi Financiers.
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