Court orders to impound 72 acres of land worth 11 crore of chit fund co

 

 

COURT of Honorable Special Judge Bemetara Jaideep Vijay Nimonkar has issued an order to impound 72 acres of land worth Rs 11 crore of chit fund company KMJ Developers India Limited. So far, eight directors of different chit fund companies have been arrested by the Bemetara Police in the last six months and search for other accused is on.

In compliance with the instructions given by Chief Minister Bhupesh Baghel and Inspector General of Police Durg Range B N Meena, a special team was formed under the leadership of Bemetara SP Dharmendra Singh, ASP Pankaj Patel, and SDO (P) Bemetara Rajeev Sharma under the campaign being run against chit fund companies. While addressing the Press Conference, Bemetara SP Dharmendra Singh said that so far, eight directors of different chit fund companies have been arrested.

Along with this, 72 acres of land in Bemetara, a Mercedes car and two bungalows in Chandigarh have been identified for confiscation.

Bemetara police succeeded in arresting the absconding director of PACL Company Gurjant Singh Gill, who had cheated thousands of people, and also confiscated his luxury bungalows in Chandigarh whose value is above Rs 15 crore.

As per the intention of the Government, Bemetara Police have been confiscating maximum assets of chit fund companies and they are committed to return money to the investors and to arrest the accused. In this regard, Bemetara police have arrested eight directors of different chit fund companies in 11 cases registered in different police stations, in the last six months. SP told that the ones arrested have been identified as B N Gold Real Estate Limited Company directors Anil Sharma from Pune, Vinay Kumar Yadav and Vikas Kumar Yadav both from Bihar and Baljit Singh Sandhu from Jalandhar Punjab, PACL company directors Anurag Sharma from Chandigarh, Jogender Tiger from Patiala Punjab, Sai Prakash Development Company director Mrigendra Singh Baghel of Shahdol Madhya Pradesh and director of Royal Life Marketing Dhanendra Gajbhiye. It is noteworthy here that KMJ Developers India had taken huge money from the investors in Bemetara and other districts of Chhattisgarh. This company’s director Santoshi Lal Rathore has been absconding since a long time. Rathore had made a fake NOC of SEBI and had sold 72 acres of land whose value is estimated to be around Rs 11 Crore in Bemetara district. A complaint in this regard was received by Bemetara SP. A letter was written to SEBI to confirm the NOC issued and it was confirmed that no NOC has been issued by SEBI. On this, a report was sent by the SP to District Magistrate Bemetara for cancellation of the transfer of land. Thereafter, the District Magistrate cancelled the transfer and the first order for confiscation was issued. The matter was sent to Special Judge Bemetara for the final order. Final order of confiscation has been issued by the court of Jaideep Vijay Nimonkar. The auction process of which is under process. Action has been taken by City Kotwali police under section 420 of Indian Penal Code (IPC) and relevant sections of Prize Chits and Money Circulation Schemes (Banning) Act.