https://www.taxtmi.com/caselaws?id=106188 The Tamil Nadu Protection of Interests of Depositors in Financial Establishments Act, 1997 was construed as a depositor-protection statute that operates through government action, attachment of property and reference to the Special Court after the statutory machinery is triggered. On that reading, an individual suit for recovery of money against a private finance establishment is not barred at the threshold, and the civil court must entertain and register it. Section 6 becomes relevant only if proceedings are later required to be transferred after attachment and entrustment to the competent authority. en-us Wed, 03 Feb 1999 00:00:00 +0530 Tue, 13 Mar 2012 11:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106188 The Tamil Nadu Protection of Interests of Depositors in Financial Establishments Act, 1997 was construed as a depositor-protection statute that operates through government action, attachment of property and reference to the Special Court after the statutory machinery is triggered. On that reading, an individual suit for recovery of money against a private finance establishment is not barred at the threshold, and the civil court must entertain and register it. Section 6 becomes relevant only if proceedings are later required to be transferred after attachment and entrustment to the competent authority. Case-Laws Companies Law Wed, 03 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106188