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Tamil Nadu News

Tuesday, January 12, 2010

CB-CID to tighten screws on FIs

CHENNAI: Following complaints on private financial institutions, the CB-CID will request the Tamil Nadu government to make it mandatory that such institutions should get an NOC from the CB-CID before launching a company, G Thilagavathy, ADGP, Economic Offences Wing (EOW), said here on Friday.The CB-CID will also request the government to grant them authority to audit the existing institutions every three months. The EOW has registered 44 cases of frauds by financial institutions and recovered Rs 67.57 crore.Providing details about their latest hunt on fraudulent financial institutions, the ADGP said the EOW arrested five persons from Valasarvakkam in Chennai, Virudhunagar and Vellore.Real King Marketing at Valsaravakkam had 4,000 depositors, who were cheated to the tune of Rs 40 crore. Four people involved in the fraud, Gunalan, Raja Yesupatham, Tamilselvi and Santhosh Kumar, are absconding.Gold Power Marketing located at Vignesh Colony, Virudhunagar, was started in August 2009. They lured people into investing Rs 5,000 and the company received Rs 50 crore out of which they did not return Rs 18.98 crore. Based on the complaints the EOW received, Vijayakumar, Srinivasan, and Sokkammal were arrested.The police are on the look out for one Jansirani.A chit fund at Vellore, Kings Star Mercantile, which was started in 2008 had cheated Rs 11.30 crore.A total of 2,734 people had deposited in the chit fund.The managing director of the company, Sreenivasan, and his partner Palanisamy were arrested.


Two injured as MK's security van overturns

Two policemen were injured when a security van escorting Tamil Nadu chief minister M Karunanidhi overturned on the Yeshwanthpur flyover on Sunday morning.
Karunanidhi was heading towards the Bengaluru International Airport to catch a 10.20 am flight to Chennai when the driver of the vehicle at the tail end of the convoy lost control, leading to the mishap around 9am. The rest of the motorcade went ahead, oblivious of the missing security van.
The Dravida Munnetra Kazhagam patriarch was returning home after visiting his daughter Selvi, a resident of JP Nagar. The accident did not affect Karunanidhi's schedule.
The injured policemen, assistant sub-inspector Channe Gowda and constable Badrinath, have been kept under observation at MS Ramaiah Memorial Hospital. The doctors treating them said their injuries were not life-threatening.
Ten City Armed Reserve policemen - the strike force - were in the van that had overturned. The accident held up traffic on the flyover. However, police soon pressed a crane into service and removed the vehicle.
Deputy commissioner of police (Traffic West) PH Rane, who was travelling just behind Karunanidhi'scar, said that the convoy was informed of the accident 15 minutes later, when they had reached Mekhri Circle. "We deploy the strike force to intervene in case of emergency. The driver of the van tried to negotiate a right turn, but lost control over the vehicle. Even though he applied brakes, the vehicletoppled," he said.
When Karunanidhi was proceeding towards Selvi's house on December 24, the jammer in his motorcade had caught fire near Hebbal flyover.The security personnel extinguished the fire.



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