Southern States - Tamil Nadu-Chennai

Depositors throng financial firm office

By Our Special Correspondent

CHENNAI May 22. Several investors could not recover their deposits to the tune of nearly Rs. 7 crores following the winding up of Palghat Benefit Fund at T.Nagar.

Hundreds of depositors today thronged the office of the financial firm on Nana Street in T.Nagar. Most of the victims were from middle class families, especially housewives, who had deposited amounts ranging from Rs.50,000 to Rs.one lakh. These depositors were in a pensive mood and confused over the sudden closure of the firm, which had branches in different parts of the city.

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