CHENNAI: The Special Court for TANPID has issued a Non-Bailable Warrant against Devanathan Yadav for failing to comply with his bail conditions.
Yadav, the director of Mylapore Hindu Permanent Fund company, was among those accused of defrauding hundreds of investors of several crores of rupees.
He was arrested and jailed, and others had filed their third bail petition before the High Court.
Justice G Jayachandran, who heard the petition, had earlier granted interim bail on the condition that they deposit Rs 100 crore as surety before the trial court.
When the case came up for hearing before the Tamil Nadu Protection of Interests of Depositors (TNPID) in the HC campus, counsel R Thirumoorthy, representing the Investors Association, argued that Yadav had not complied with any of the bail conditions set by the HC.
He further stated that Yadav had neither deposited the Rs 100 crore nor surrendered himself as required. Justice S Muruganantham issued an NBW against Yadav for failing to comply with his bail conditions.