G.O. (Ms) No. 113, Home (Police XIX), 16th February 2015
The Tamil Nadu Home Department issued G.O. (Ms) No. 113, Home (Police XIX), dated 16 February 2015, making an ad-interim attachment of scheduled immovable properties connected with Messers Fine Future and its related names in Coimbatore District. The attachment responds to defaults in returning deposits and transfers control of the listed properties to the Competent Authority and District Revenue Officer, Coimbatore District.
What the notification does
G.O. (Ms) No. 113, Home (Police XIX), dated 16 February 2015, was published by the Tamil Nadu Home Department in the Tamil Nadu Government Gazette on 24 August 2016. It records complaints that Messers Fine Future, Fine Futures, Fine Futuress, Fine Futuresss, Bestwayss, Bestwaay, Aaaimmsure, Way2success, Gudwayss and Goodaaim had defaulted in returning deposits after maturity.
The Government states that it was satisfied that the financial establishment was unlikely to return the deposits. It therefore made an ad-interim attachment under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997.
Properties and control
The ad-interim attachment applies to immovable properties standing in the names of partners of the financial establishment and other persons identified in the schedule. The supplied schedule includes vacant sites, agricultural land, land and a building, and properties with common pathway rights.
Key provisions include:
- Control of the scheduled properties is transferred to the Competent Authority and District Revenue Officer, Coimbatore District.
- The Competent Authority is directed to pursue further action under the procedure identified in the Act and the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Rules, 1997.
- The Special Public Prosecutor for the Special Court in Coimbatore District is requested to assist with filing the required application before that court.
- The schedule identifies properties through owner names, locations, registration document numbers, survey details, extents and guideline values.
- Locations visible in the supplied schedule include properties in Tiruppur, Erode and Coimbatore districts.
Who may be affected
G.O. (Ms) No. 113 directly affects the named property holders and the partners of the financial establishment whose properties appear in the schedule. It is also relevant to depositors seeking recovery and to anyone considering a transaction involving a scheduled property, because control has been transferred to the Competent Authority and District Revenue Officer, Coimbatore District.
The notification is an ad-interim attachment. It also directs the competent authority to continue the statutory process before the Special Court.
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 the notification attach every property connected with Fine Future?
The attachment applies to the immovable properties specified in the schedule and standing in the names of partners or other listed persons.
Who controls the attached properties?
Control is transferred to the Competent Authority and District Revenue Officer, Coimbatore District.
Why were the properties attached?
The Government recorded complaints of deposits not being returned after maturity and stated that the financial establishment was unlikely to repay depositors.
Is the attachment final?
The notification describes the attachment as ad-interim. It directs the Competent Authority to pursue further action and seek assistance for an application before the Special Court.
