Financial Daily from THE HINDU group of publications
Thursday, Jun 24, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 24, 2004 |
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Money & Banking
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Investor Grievances RBF Nidhi issue Our Bureau
CHENNAI: The RBF Nidhi Depositors' Welfare Association (T. Nagar) has started legal action against the nidhi's Chairman, Justice (retd.) T.N. Vallinayagam, for allegedly violating a High Court order about the operation of RBF's bank account. At a press conference on Wednesday, the Welfare Association's Treasurer, Mr C.M. Soundararajan, said they had sent RBF's Chairman a notice that said he had violated the High Court's order. The association's press release said a division bench of Madras High Court had on May 26, 2004 ordered RBF's Chairman to stop operating its bank account till June 14, 2004. The release alleged that RBF's Chairman issued cheques for Rs 10 crore and above between May 26 and May 31.
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