State Public Prosecutor Mr. Hasan Mohamed Jinnah appeared for the State in the Madurai Bench of the Madras High Court in the petitions filed Neomax group of companies that a Committee has to be appointed for sale of lands to the depositors. He argued that the Writ Petition itself is not maintainable, since the prayer is against the procedure provided under the TNPID Act.

State Public Prosecutor Mr. Hasan Mohamed Jinnah appeared for the State in the Madurai Bench of the Madras High Court in the petitions filed Neomax group of companies that a Committee has to be appointed for sale of lands to the depositors. He argued that the Writ Petition itself is not maintainable, since the prayer is against the procedure provided under the TNPID Act.

State filed a detailed typed set, relying on various precedents of the High Court in which committees have been formed in Economic Offences cases to show that the same has been ineffective. He also vehemently argued that the investigation is at a very preliminary stage and that they have to identify the total no of depositors and the total defaulted amount involved. He also argued that the accused conducted zoom meetings and pressurised depositors not to give complaints, thereby hampering the investigation.

He further argued that the depositors who have already given complaints will be given Priority, while disposing off the default amount and highlighted the fact that no of complaints have substantially increased from the previous date of hearing (2 weeks back).

Hon’ble court after agreeing with the same, directed the neomax group companies to provide the details of the total no of depositors and the total default amount and other relevant documents by the next date of hearing and adjourned the matter to 27.09.2023.