Tuesday, 04 August 2015 - 19:40
Golden Key case in which 9000 depositors lost Rs. 26,000 million concludes
The Supreme Court concluded today the hearing of a petition filed by Golden Key depositors.
When the petition was taken before a bench of five Supreme Court judges presided by the Chief Justice, the settlement mechanism proposed by the government was allowed.
A group of Golden Key depositors filed this case 7 years ago, citing that the company cheated their money.
17 parties including the then Finance Minister and 9 members of the Golden Key company director board were named as respondents in this case.
The petition also cited that 26,000 million rupees deposited in the company by 9,127 persons have been cheated by the board of directors of Golden Key Company.
However, the Central bank Governor and the finance ministry informed the Supreme Court 41% of deposits would be repaid under 3 stages.