Chennai, Feb 10 (PTI) The Madras High Court today said the Tamil Nadu government should have initiated action against officials of state transport corporations responsible for investing contributions to employees provident fund in Madhya Pradesh government owned company which had gone bankrupt. Dismissing a writ petition by Thanthai Periyar Transport Corporation Employees Provident Fund Trust (the corporation now known as Tamil Nadu State Transport Corporation, (TNSTC) Villupuram, seeking a direction to Madhya Pradesh State Industries Development Corporation, Bhopal, to refund the investment of Rs 20 lakh with interest from 2002, Justice K Chandru said the High Court had no jurisdiction to decide the issue under Article 226 of the constitution. At the best, the petitioner could approach civil court in that state for necessary relief, the Judge said wondering as to why the transport corporations invested such huge amount in Madhya Pradesh,when such financial institutions were available in Tamil Nadu. The Judge said from the narration of events, it would be clear that some officers of the transport corporations must have obtained pecuniary advantage in the investments. The Regional Provident Fund authorities should also inquire as to whether the corporation had intimated them about investing the employees contributions to the provident fund. As that company defaulted in paying interest and was facing liquidation, the present petition was filed. Similarly, three other transport corporations in Tamil Nadu had invested provident fund amounts totalling Rs 1.17 crore. The Judge directed the registry to send a copy of the order to the state Chief Secretary for action against those officers responsible for the investments. PTI GR RC
