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TNPID Act courts to start work in Madurai, Coimbatore

K.T.Sangameswaran

CHENNAI: Buildings have been identified for setting up courts under the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) (TNPID) Act in Madurai and Coimbatore.

When the courts start functioning, the cases registered under the Act in the western zone would be transferred to the Coimbatore court and in the southern zone to Madurai, the Inspector-General of Police, Economic Offences Wing (EOW) of the State Police, G.Umaganapathy Sastry, told The Hindu. At present, there is only one court under the TNPID which is in Chennai. A workshop for District Revenue Officers (DRO), the “competent authority” under the special legislation, with the objective of enhancing their knowledge of various aspects relating to attachment of property was held here on Tuesday. The problems faced by DROs in the attachment and disposal of property for making repayments to depositors were discussed. The programme was also to evolve ways for better field-level coordination between the competent authority and investigating officers. Nineteen DROs and personnel of the special unit participated.

A workshop would be held for EOW officers in the rank of Sub-Inspector and above on Wednesday.

Inaugurating the programme, Additional Director-General of Police, EOW, Archana Ramasundaram, emphasised the need to take coordinated and effective action by DROs and investigating officers to ensure early disposal of property of defaulting firms attached under the Act and disbursal of money to affected depositors.

S. Vimala, Director, Tamil Nadu State Judicial Academy, spoke on various legal issues relating to attachment of property.

Director-General of Police P. Rajendran said DROs played an important role under the Act.

They should exercise their powers effectively for speedy refund of money deposited by gullible people, as several of them were aged.

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