Explorer

SC To Examine Andhra Govt's Transfer Plea For Margadarsi Chit Fund Case Petitions

A vacation bench has issued a notice to the chit fund company, Margadarsi Chit Fund Private Ltd. (MCFPL), and scheduled the matter for hearing on July 18.

The Supreme Court has agreed to examine a plea by the Andhra Pradesh government seeking the transfer of a bunch of pleas in the Margadarsi Chit Fund case. Margadarsi Chit Fund Private Ltd (MCFPL) and others had filed the pleas, challenging the criminal and other investigations initiated against them, news agency IANS reported. A vacation bench, comprising Justices Aniruddha Bose and Rajesh Bindal, issued a notice to MCFPL, and scheduled the matter for hearing on July 18.

Senior advocate Harish Salve, representing Margadarsi Chit Fund Private Ltd (MCFPL), opposed the plea and contended this kind of politics should be avoided. He stated that the issues related to the case were already being addressed by the Telangana High Court, and instead of filing an appeal, the state government was seeking a transfer of the matter. It was further informed by the Supreme Court that the high court had already scheduled the matter for June 26.

The state government sought transfer of the matters from Telangana to the Andhra Pradesh High Court.

ALSO READ | Lok Sabha 2024: Amit Shah, JP Nadda To Address BJP's Maha Jansampark Abhiyan Rallies In Andhra Pradesh

According to the plea filed by the state government, it argued that the First Information Reports (FIRs) were registered by the Andhra Pradesh Criminal Investigation Department (CID) police station in Guntur against Margadarsi Chit Fund Private Ltd. (MCFPL). The allegations include offences committed in Andhra Pradesh under the Chit Fund Act, the Andhra Pradesh Protection of Depositors in Financial Establishments Act, 1999, and the Indian Penal Code (IPC).

The Andhra Pradesh government emphasised that the offences were committed within its territory, and therefore, the state police had conducted the investigation.

"Instead of availing of their remedies available under law, the Respondents herein chose to approach the Hon'ble High Court of Telangana, invoking its writ jurisdiction, where none existed. Shockingly, not only were such writ petitions entertained, but interim orders were also passed restraining the petitioner from taking any coercive steps against MCFPL, its management, employees, or affiliates," said the plea, as reported by IANS.

According to the plea filed by the state government, it stated that a significant number of subscribers to the chit funds offered by Margadarsi Chit Fund Private Ltd. (MCFPL) are located in Andhra Pradesh. The plea also mentioned that the majority of the branch offices of MCFPL are situated in Andhra Pradesh. 

"Therefore, the cause of action arises or the situs [place/jurisdiction] of the offences is in Andhra Pradesh, and thus, it is only the honourable high court of Andhra Pradesh that will have jurisdiction over these matters and no other high court, including the honourable Telangana High Court," said the plea.

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

India Summons Canadian Official On Allegations Against Amit Shah, Conveys 'Strong Protests'
India Summons Canadian Official On Allegations Against Amit Shah, Conveys 'Strong Protests'
4 Sanitation Workers, Including Two Women, Killed After Being Hit By Train In Kerala's Palakkad
4 Sanitation Workers, Including Two Women, Killed After Being Hit By Train In Kerala's Palakkad
Pawar Family Hosts Separate Diwali Events For 1st Time As Ajit, Sharad Gear Up For Maharashtra Polls
Pawar Power Split: Pawar Family Hosts Two Diwalis For 1st Time As Ajit, Sharad Gear Up For Polls
One Terrorist Killed In Encounter In Jammu And Kashmir's Srinagar
One Terrorist Killed In Encounter In Jammu And Kashmir's Srinagar
Advertisement
ABP Premium

Videos

Diwali 2024: Akshardham Air Quality Deteriorates to Hazardous Levels Post-October 30Bihar's Air Turns Toxic: Fireworks Lead to Hazardous AQI Across Multiple DistrictsDiwali 2024: Fireworks Leave Delhi NCR and Jaipur Choking with Hazardous Air QualityDiwali 2024: Fireworks Turn Delhi's Air Toxic, Breathing Becomes a Struggle | ABP News

Photo Gallery

Embed widget