Following a petition in the High Court questioning prior deposits of temple funds in loss-making state entities, the Tamil Nadu government has committed to a sovereign guarantee covering Rs 2,700 crore held in the Tamil Nadu Power Finance Corporation. During a May 29 hearing before Justices G.R. Swaminathan and V. Lakshminarayanan, authorities notified the bench of the guarantee to address earlier concerns over the security of these deposits, which support lending to the indebted state power utility TANGEDCO. The assurance aims to safeguard funds from religious institutions and avoid liquidity risks. The court granted the government and TNPFC eight weeks to submit detailed responses on compliance matters. Petitioner T.R. Ramesh welcomed the move on social media, describing it as a victory for temple interests and noting the court’s prior suggestion for such protection. Earlier proceedings highlighted questions about regulatory borrowing limits and the addition of TNPFC as an approved investment option under state rules. In a separate incident, the Hindu Religious and Charitable Endowments Minister inspected Tiruchendur temple, identified staff irregularities involving payments for expedited access, and ordered an inquiry along with suspensions.
