Madrasdated High Court · 2025

WP No. 35316 of 20243.The Competent Authority,Under TNPID, O/o.The Additional Commissioner, Land Administration, Chepauk, Chennai -600 005.4.The Mylapore Hindu Permanent Fund Nidhi Ltd,Chennai -600 004.5.Devananthan,S/o. Thiruvengadam, 6.R.Gunaseelan,S/o.Rangabashiam, 7.D.Magimainathan,S/o. Devarajan, 8. Mylapore Fund Aggrieved Depositors Association, rep. By its Joint Secretary, Harisudha, S/o.Vedachalam Flat No.2B, Srivari Apartment, 18, Abdul Razak Street, Saidapet, Chennai 600 015(8th respondent is impleaded as per order of this Court made in WMP No.381 of 2025, dated 15.09.2025.)Respondent(s)2/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024PRAYERThis Writ Petition has been filed to issue a writ of mandamus directing the first respondent to consider the representation of the petitioner dated 18.10.2024, requesting for ad-interim attachment of the properties under Section 3 of the TNPID Act, 1997 held by the Mylaproe Hindu Permanent Nidhi Ltd, Chennai, its managing Director and other persons involved in the default of payment to the depositors and transfer the control over the said money and property to the competent Authority under 4 of the TNPID Act, 1997For Petitioner(s):Mr. A.AshwinkumarFor Respondent(s):Mr. K.M.D. Muhilan,Additional Public Prosecutor,for R1 To R3Mr. N.Manokaran,for M/s. P.K. Vasuki, For R4 & R5M/s. R. Mitesh For R6 M/s. A. Muthu Kumar, For R7 3/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024Mr. R. Thirumoorthy,for R8ORDERThis writ petition has been filed seeking a direction to the first respondent to consider the representation of the petitioner dated 18.10.2025, requesting for ad interim attachment of the properties under Section 3 of TNPID Act 1997.2. The 8th respondent, Nithi Limited, is a mutual benefit society established with the object of encouraging savings among its members and providing loans based on member deposits for over 150 years. In the year 2017, the 5th respondent assumed position of Managing Director, along with certain other members, including the 6th and 7th respondents, who had joined the management in 2015. They assured the depositors a high rate of interest, and relying on such assurances and the long standing name of the society, several depositors invested around a sum of Rs.600 Crores through various cumulative fixed deposit and recurring deposit schemes. 4/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 20243. However, from February 2024, the company ceased giving interest and disbursing the matured payments on the deposited amounts. Consequently, the petitioner association members and depositors sought return of their matured invested principal and accrued interest from the respondents 5 to 7, for which they had also issued post dated cheques. When the same were presented for collection, they were returned as “insufficient funds”. Hence, a case in crime no.14 of 2024 has been registered by the Economic Offences Wing. Though the petitioner association had given a representation on 08.10.2024 to the first respondent under Section 3 of the TNPID Act,1997, seeking attachment of the properties of the Company and its directors, no action has been taken so far. 4. The grievance of the petitioner is that only a few properties have been attached, though they have identified 77 properties. However no action has been taken with respect to the remaining properties. 5/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 20245. Pursuant to the same, earlier, this Court directed the second respondent to file a detailed report as to the nature of the action taken so far and whether adequate infrastructure has been provided to investigate such a large-scale of offence. The second respondent was also directed to identify all the immovable properties of the company and make necessary proposal to the Government for interim attachment of the said properties.6. Today, a Status Report has been filed by one Mr.S.Seetharam, Deputy Superintendent of Police, Economic Offences Wing, Chennai. 7. I have heard both sides and perused the materials available on records carefully.8. On perusal of the Status report, it is seen that out of 77 listed properties, proposal for 25 properties have been sent to the Government for approval. The list of attachment orders made has also been detailed in the said status report, which is extracted herein:-6/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 20241.“Details of the properties in the list provided , in which proposal sent for Ad-Interim attachment on 22.08.2025-yet to be received order for attachment. S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarks12034/2005Agricultural land in Kottuvakkam village (nallamur revenue village, madurantakkam taluk, Kanchipuram district in Sy No.8/4A part & present 8/4 A1 with extent of 3 acre 41 cents.SRO. CheyyurDevanathan Yadav3.41 Acre700100 per Acre23873412nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.2669/2018Agricultural land in s no.101/2A in koppur, marukkanchery village of thiruvallur taluk thiruvalur dis. of extent of 6A-75 cents.SRO ManavalanallurDevanathan Yadav6.75 cent 65000 per one cent438750002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.31423/2019 dt: 06.06.2019Agricultural land in sy no.115/1E with extent of 51 cents (or 22216 sq.ft( in Panaiyur village (near ECR road) of Kanchipuram Dist SRO, CheyyurDevanathan Yadav51 cents252 sq.ft55777682nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.4Doc No. 382/2020dt: 31.01.2020Agricultural land in sy no. 14/5, 14/6A, 14/6B, 18/2 and 18/3 with extent 5 acre 16.5 cents in ThiruthalaiyurSRO MusiriDevanathan Yadav4.165500100 per acre25830172nd proposal sent on 22.08.2025 and yet to receive G.O. For 7/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarksad-interim attachment.5272/2021 dt: 21.01.2021Agricultural land in sy no.76/2 in Salavathy Village of Tindivanam Taluk (presently the property has become non agricultural land property abutting national highway) Avarapakkam SRO Devanathan Yadav11 cents950000 per acre1045002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.6272/2021 dt: 21.01.2021Agricultural land in sy no.76/3 in Salavathy Village of Tindivanam Taluk (presently the property has become non agricultural land property abutting national highway) Avarapakkam SRO Devanathan Yadav13 cents950000 per acre1235002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.7272/2021 dt: 21.01.2021Agricultural land in sy no.76/9A in Salavathy Village of Tindivanam Taluk (presently the property has become non agricultural land property abutting national highway) Avarapakkam SRO Devanathan Yadav23 cents 85000 per acre195500 2nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.84524/2022 dt: 01.12.2022Agricultural land (presently non agricultural land) in Fanichamedu Village, Marakkanam Taluk, Villupuram Dist in sy no.12/6 and 12/3A with 33 cents. Marakannam SRO Devanathan Yadav33 cents2500000 per acre8250002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.8/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarks94524/2022,dt:01.12.2022Agricultural land (presently non agricultural land) in Fanichamedu Village, Marakkanam Taluk, Villupuram Dist in sy no.12/6 and 12/3A with 16 cents. Marakannam SRO Devanathan Yadav16 cents2500000 per acre4000002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.104526/2022Agricultural land (presently non agricultural land) in Fanichamedu Village, Marakkanam Taluk, Villupuram Dist in sy no.10/4 B with 20 cents. Marakannam SRO Devanathan Yadav20.0 cents1700000 per acre30400002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.114526/2022Agricultural land (presently non agricultural land) in Fanichamedu Village, Marakkanam Taluk, Villupuram Dist in sy no.11/1 with 13 cents. Marakannam SRO Devanathan Yadav13.0 cents126 per sq.ft7125302nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.12Conveyance deed non Metro IUA doc no.1133/2017 dt:09.05.2017Residential flat No.H2 ground floor with Super Build area of 720 sq.ft. And undivided share of land of 350 sq.ft. New door no.15/45 old no.7 block no.119 sy no.027 and T.S.No.7215 araravathi street( earlier Griffithroad) thiyagaraya nagar,Chennai 600 017Thiyagaraya SROMeenatchi Yadav350 sq.ft (UDS + Building value- Rs.6,79,963)9900 per sq.ft41449632nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.13Conveyance Residential flat No.H4 Meenatchi 350 sq.ft. 9900 41449632nd proposal 9/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarksdeed non METRO UA doc no.1230/2017 dt:22.05.2017first floor with Super Build area of 720 sq.ft. And undivided share of land of 350 sq.ft. New door no15/45 old no.7 block no.119 sy no.027 and T.S.No. 7215 araravathi aparments maharajapuram Santhaam street ( earlier Griffith road) thiyagaraya nagar,Chennai 600 017Thiyagaraya SROYadav(UDS + Building value- Rs.6,79,963)per sq.ftsent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.14Conveyance deed/Metro Ua 17.04.2017doc no.958/2017Apt no.H5 Second floor amaravathy apartments new no.15/45 old no.7 maharajapuram Santhanam street (old Griffith road),Tnagar, Chennai 600 017 Thiyagaraya Nagar SRODevanathan yadav350 sq.ft (UDS +Building value Rs.6,79,963)9900 per sq.ft41449632nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.15Conveyance deed/METR UA17.04.2017doc no.959/2017Apt no.H6 Second floor amaravathy apartments new no.15/45 old no.7 maharajapuramm Santhanam street (old Griffith road),Tnagar, Chennai 600 017 Thiyagaraya Nagar SRODevanathan yadav350 sq.ft (UDS +Building value Rs.6,79,963)9900 per sq.ft41449632nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.16Conveyance deed/METR UA17.04.2017doc no.960/2017Apt no.H1 Second floor amaravathy apartments new no.15/45 old no.7 maharajapuramm Santhanam street (old Griffith road),Tnagar, Chennai 600 Devanathan yadav350 sq.ft (UDS +Building value Rs.6,79,963)9900 per sq.ft41449632nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim 10/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarks017 Thiyagaraya Nagar SROattachment.17Conveyance deed non metro UA Doc No.2082/2012 dt:18.11.2012Agricultural land sy no.638/2 774/6 and 781/3 in poovani village kadambur srivaigunadam taluk, Thoothukudi dist. SRO KadamburSudhir Sankar on behalf of Deva mines10.35 cents 200000 per acre20700002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.18Conveyance deed non metro UA Doc No.2227/2013 dt:26.11.2013Agricultural land sy no.775/3 776/2 and 749/3 in poovani village kadambur srivaigunadam taluk, Thoothukudi dist. SRO KadamburM/s. Deva mines Pvt Ltd by Thyagarajan7.44 cents 200000per acre14880002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.19Conveyance deed non metro UA Doc No.2228/2013 dt:26.11.2013Agricultural land sy no.582/6, 615/3 and 660/5 in poovani village kadambur srivaigunadam taluk, Thoothukudi dist. Kadambur SROM/s. Deva mines Pvt Ltd by Thyagarajan3.93 cents 200000per acre7860002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.20Conveyance deed non metro UA Doc No.2229/2013 dt:26.11.2013Agricultural land sy no in poovani village kadambur srivaigunadam taluk, Thoothukudi dist. Kadambur SROM/s. Deva mines Pvt Ltd by Thyagarajan2.68 cents 200000per acre5360002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.21Conveyance deed non metro UA Doc Agricultural land sy no 567/3A in poovani village kadambur srivaigunadam taluk, Thyagarajan behalf of Deva Mines96 cents 200000per acre1920002nd proposal sent on 22.08.2025 and yet to 11/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024S.NoDocument No.Property Address and LocationDetails of property ownerExtentGuide Line Value Acre/sq. ft rateTotalRemarksNo.2230/2013 dt:26.11.2013Thoothukudi dist. Kadambur SROreceive G.O. For ad-interim attachment.22Conveyance deed non metro UA Doc No.1003/2006 dt:10.04.2006Agricultural land of extent 5 acre 62 cents pertaining to sy no.115 in Pandrimalai village Reddiyar Chathram, Kannivadi Sub division, Dindugaldist. SRO KannivadiChennai Deva investments & Finance (India) Pvt. Ltd.,5.65 cents200000 per acre11300002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.23Conveyance deed non metro UA Doc No.1004/2006 dt:10.04.2006Agricultural land of extent 5 acre 35 cents pertaining to sy no.116/2 in Pandrimalai village Reddiyar Chathram, Kannivadi Sub division, Dindugal dist. SRO KannivadiChennai Deva investments & Finance (India) Pvt. Ltd.,5.35 cents200000 per acre10700002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.24Conveyance deed non metro UA Doc No.1005/2006 dt:10.04.2006Agricultural land of extent 7 acre 15 cents pertaining to sy no.114/1 and 114/2 in Pandrimalai village Reddiyar Chathram, Kannivadi Sub division, Dindugal dist. SRO KannivadiChennai Deva investments & Finance (India) Pvt. Ltd.,15.29 acre200000 per acre30580002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.25Conveyance deed non metro UA Doc No.1006/2006 dt:10.04.2006Agricultural land of extent 7 acre 15 cents pertaining to sy no.116/1 in Pandrimalai village Reddiyar Chathram, Kannivadi Sub division, Dindugal dist. SRO KannivadiChennai Deva investments & Finance (India) Pvt. Ltd.,5.35 acre200000 per acre10700002nd proposal sent on 22.08.2025 and yet to receive G.O. For ad-interim attachment.12/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 20249. Further, in the said report, it is also stated that out of 77 listed properties, 5 properties could not be attached as they are under encumbrance and the remaining 47 properties are under scrutiny. Necessary action will be taken in accordance with law. 10. The learned Additional Public Prosecutor submit that steps have already been taken to conduct the said forensic audit. 11. Considering the submission and also taking note of the Status Report, let the second respondent pursue the identification of the remaining properties and take necessary steps to send proposals for ad interim attachment of the same by the Government.12. The Investigating officer is also directed to take note of the nature of the huge deposits involved and if necessary, to conduct a forensic audit of the accounts and financial transactions of the company. 13/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 202413. With the above observations and directions, this Writ Petition is disposed of. 15-09-20252/2Neutral Citation:Yes/NomrpTo1. The Principal Secretary, Home Department, Secretariat, Government Of Tamil Nadu, Fort St. George, Chennai -600 009. 2. The Inspector Of Police, Economic Offences Wing, Head Quarters, Chennai.3.The Competent Authority,Under TNPID, O/o.The Additional Commissioner, Land Administration, Chepauk, Chennai -600 005.14/15 https://www.mhc.tn.gov.in/judis WP No. 35316 of 2024N.SATHISH KUMAR J.mrpWP No. 35316 of 202415-09-202515/15