G.O. Ms. No. 310, I-Max Capital Solutions Movable Property Attachment, 2021
The Government of Tamil Nadu Home Department (Police XIX), through G.O. Ms. No. 310 dated 4th August 2021, ordered the ad-interim attachment of specified movable properties belonging to Messers I-Max Capital Solutions and its director, Thiru B. Ganeshram. Control of the attached bank deposits was transferred to the Competent Authority and District Revenue Officer, Chennai District, to protect depositors who complained that matured deposits had not been returned.
What the notification does
G.O. Ms. No. 310, issued by the Government of Tamil Nadu Home Department (Police XIX) on 4th August 2021, concerns complaints that Messers I-Max Capital Solutions, Chennai District, failed to return deposits after maturity. The Government stated that the financial establishment was not likely to return the deposits and that the listed movable properties were alleged to have been obtained using money collected from depositors.
The Governor ordered an ad-interim attachment under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997. The attachment covers only the movable properties specified in the schedule.
Properties covered
The schedule lists three bank deposits with a total available amount of Rs. 4,76,430.32:
- Messers I-Max Capital Solutions, savings account with Karur Vysya Bank, Anna Nagar, Chennai, containing Rs. 4,64,282.32. The account was recorded as frozen on 18th February 2021.
- Thiru B. Ganeshram, savings account with HDFC Bank, Porur Branch, Chennai, containing Rs. 983.00. The account was recorded as frozen on 1st March 2021.
- Messers I-Max Capital Solutions, fixed deposit with HDFC Bank, Porur Branch, Chennai, containing Rs. 11,165.00. The deposit was recorded as frozen on 1st March 2021.
No land or other immovable property is included in the published schedule.
Who controls the attached assets
G.O. Ms. No. 310 transfers control of the scheduled movable properties to the Competent Authority and District Revenue Officer, Chennai District. That authority was requested to take further action using the procedures under the Act and its rules.
The Special Public Prosecutor for the Special Court under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997, Chennai, was requested to assist the Competent Authority with filing the required application before the Special Court.
Relevance to property buyers and owners
G.O. Ms. No. 310 does not list or attach any land. Its direct effect is on the specified bank accounts and fixed deposit belonging to Messers I-Max Capital Solutions and Thiru B. Ganeshram, and on depositors seeking protection after the alleged default.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does G.O. Ms. No. 310 attach any land in Chennai?
No land is included in the published schedule. The attachment covers two savings accounts and one fixed deposit.
Whose assets were attached?
The scheduled assets stand in the names of Messers I-Max Capital Solutions and its director, Thiru B. Ganeshram.
Who now controls the attached bank deposits?
Control was transferred to the Competent Authority and District Revenue Officer, Chennai District.
Why did the Government order the attachment?
The Government received complaints that matured deposits had not been returned and stated that Messers I-Max Capital Solutions was not likely to return them. The attachment was made to protect depositors.
