Madras HC recalls order, hands over Tiruchy scam case to EOW – The New Indian Express

Chennai News

By Express News Service

MADURAI: The Madurai Bench of Madras High Court recalled an earlier order passed by it forming a committee under a retired HC judge to inquire into a financial scam in Tiruchy. Administrative Judge, Justice Paresh Upadhyay, directed the committee to hand over the documents to the Economic Offences Wing (EOW) of the police, saying they are the competent authority to investigate the case.

The earlier order was passed on November 1, 2021 by another judge while disposing of the bail petitions filed by some of the accused in the case. The accused, who were running a financial firm, had cheated crores of rupees from several persons by falsely promising them high returns.

The said judge had formed the committee, headed by Justice S Rajeshwaran (retired HC judge), to inquire into the scam, identify the depositors, and facilitate return of the money to them by selling the properties of the accused and the firm. However, in February this year, the committee had submitted an interim report to the High Court seeking formation of a special police team.

Following this, the cases were once again listed for hearing. Justice Upadhyay, who heard the matter, noted that the bail court had also directed the bail petitioners of the case to pay `50 lakh to the committee’s bank account towards remuneration and other expenses, the judge directed that the amount remaining in the said bank account should be transferred to the State.