6 months ago
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T. Devanathan Yadav, manager of Mylapore Hindu Permanent Fund, who was accused of defrauding hundreds of investors of respective crores of rupees, surrendered connected Friday (November 14, 2025) earlier the peculiar tribunal for cases nether the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997. Yadav had failed to comply with the bail information imposed by the Madras High Court to deposit ₹100 crore.
The Economic Offences Wing (EOW) had booked him nether the TNPID Act pursuing aggregate complaints lodged by depositors who claimed to person been duped of implicit ₹600 crore that they had deposited successful the concern firm. Yadav was arrested by the EOW successful August past year.
On September 15, 2025, the Madras High Court granted him interim bail connected the information that helium should mobilise ₹100 crore connected his ain and deposit the money with the TNPID tribunal connected oregon earlier October 30.
However, connected October 30, he submitted that helium could not mobilise the funds, arsenic each his spot documents were successful the custody of the police. The interim bail was past extended till November 7. Subsequently, the High Court asked him to surrender earlier the proceedings court connected completion of his interim bail play past Sunday oregon extremity up being secured by the police.
The tribunal for cases nether the TNPID Act had issued a non-bailable warrant against him.
A elder constabulary serviceman had said, “Taking into relationship the delicate quality of the case, we person formed a peculiar squad nether an Additional Deputy Superintendent of Police, and person launched a hunt to nab him.”
On Friday, Yadav, accompanied by his lawyers, surrendered earlier the peculiar tribunal connected the High Court campus. The justice ordered him to beryllium remanded.
