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ETI petition to be heard in December

The Supreme Court has ordered that the Fundamental Rights petition filed by the depositors in the ETI Finance Company calling on the courts to freeze the bank accounts of the failed finance company be heard on December 4.

The court has been informed that ETI is being restructured by new investors.

The petition names eighteen respondents including the Central Bank, the Governor, Members of the Monetary Board, the IGP and the Secretary to the Finance Ministry.

The Petitioners who have formed themselves into an association called the ETI Depositors association say their 2,500 members have deposits totalling over Twenty billion Rupees in the finance company.

They say they have not received any interest from these deposits.

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