Dhevanathan Yadav surrenders before TANPID Special Court
Yadav, one of the accused of defrauding hundreds of investors of several crores of rupees through the finance firm, was earlier arrested and remanded in judicial custody
CHENNAI: Dhevanathan Yadav, director of the Mylapore Hindu Permanent Fund finance company, on Friday surrendered before Justice S Muruganantham at the Special Court for the Tamil Nadu Protection of Interests of Depositors (TANPID) in Chennai in connection with a major investor fraud case.
Yadav, one of the accused of defrauding hundreds of investors of several crores of rupees through the finance firm, was earlier arrested and remanded in judicial custody.
The others had filed their third bail petition before the High Court.
Justice G Jayachandran, who heard the petition, earlier granted him interim bail on conditions, including depositing one hundred crore rupees before the trial court, refraining from tampering with witnesses and surrendering before the court on October 30. The court subsequently granted him an additional week to surrender.
Yadav later filed a petition seeking modification of these bail conditions.
It is to be noted that counsel R Thirumoorthy, representing the Investors Association, argued that Yadav had not complied with any of the bail conditions set by the HC when the case came up for hearing. He further stated that Yadav had neither deposited the Rs 100 crore nor surrendered himself as required.
The Madras High Court dismissed his plea and directed the police to arrest him. Following this order, Yadav appeared before the TANPID Special Court and surrendered before Justice Muruganantham.
The Justice has ordered that Dhevanathan Yadav be remanded in judicial custody and lodged in prison until November 24.
