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Money in accused firm's a/c can satisfy claims of defrauded depositors; SBI's plea nixed
The Free Press Journal
|October 03, 2025
The special court under the Maharashtra Protection of Interest of Depositors (MPID) Act has rejected the plea of State Bank of India seeking to realise the funds to the tune of Rs 5 crore lying in the account attached by the police during a probe against M/s Peacock Media Ltd.
The court said the funds held in the account would be useful to satisfy claims of around 298 depositors cheated by the firm on the pretext of high returns.
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The Free Press Journal - Mumbai
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The Free Press Journal - Mumbai
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The Free Press Journal - Mumbai
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The Free Press Journal - Mumbai
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