The Economic Offences Wing (EOW) has informed Madras High Court of having constituted a Special Investigation Team (SIT) to investigate the charges of Universal Trading Solution Private Limited, a firm based in Coimbatore, of having cheated nearly 73,000 depositors in Tamil Nadu, Puducherry, Kerala and Karnataka to the tune of over ₹1,000 crore.
Justice G. Jayachandran recorded the submission made on behalf of Abhin Dinesh Modak, Additional Director General of Police, EOW, Chennai and closed a contempt of court petition filed against the officer by one of the depositors, for having allegedly disobeyed an order passed by the court on June 7, 2022 after hearing as many as 1,616 depositors.
Opposing the contempt plea moved by Ezhanchezhian Palanivel, Government Advocate (criminal side), R. Kishore Kumar produced a memorandum issued by the ADGP on March 23 this year, constituting an SIT comprising six police officials under the direct supervision of the Superintendent of Police, EOW, Chennai.
