SC takes up FR petition against ETI Finance Ltd

News

The fundamental rights petition seeking to suspend the accounts and assets of ETI Finance Ltd and its Board of Directors was taken up before the Supreme Court today (Apr 04).

The ETI Depositors Association which had filed the petition, claimed that over 2500 of its members had deposited sums amounting upto Rs 20 million at ETI Finance which was registered under the Central Bank.

The petitioners claimed that the Finance Company and the Central Bank have both failed to grant the returns of these investments to the depositors.

Accordingly, the Central Bank, its Governor and the employees of the Finance Division along with the ETI Finance Company, its Board of Directors, IGP Pujith Jayasundara, the Finance Secretary were named among the 18 respondents in the case.

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