Supreme Court Comments About Margadarsi Financiers Case

Supreme Court Hearing on Margadarsi Financiars Case - Sakshi Post

NEW DELHI: The Supreme Court on Tuesday made certain comments on the Margadarsi Chit Fund Case. The Supreme Court questioned why should there be any secrecy in revealing the details of the deposits.

The bench comprising of Justice Suryakant and Justice J.B. Pardiwala was hearing the  Margadarshi Financiers case on Tuesday said that the details of the deposits should be revealed. How much was the investment made in Margadarsi, what were the payments and other details should be disclosed, it stated.

The Supreme Court ordered the disclosure of the deposits as they were talking about the company being a HUF on one side and a Proprietary Concern on the other. 

After the Margadarsi's company’s counsel had stated that all the depositors had been paid, then what was the objection in disclosing the details after making the payments, Undavalli Arun Kumar questioned. The Supreme Court agreed to his contention and directed Margadarsi to furnish the details.

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