Very good news for thousands of depositors across the country
including who lost their hard earned money to the fraudulent City
Limouzines India Ltd in 2009 as its properties have been attached in
Chennai.
The company had by a conservative estimate defrauded around 35,000
investors from different walks of life including doctors, lawyers and
journalists, to the tune of Rs.700 crore to Rs.1,000 crore. Nearly a year
after the Economic Offences Wing (EOW) officials in Chennai had sent a
proposal to the State Government for attaching the company’s seized
properties including cash from frozen bank accounts, the Home
Department has issued an ad-interim order attaching the same.
As per the Home Department order issued recently, movable
propertiesand liquid cash worth Rs.74.98 crore have been attached. The
sum includes Rs.10.81 crore deposits in current accounts maintained in
11 banks, unpaid demand drafts to the tune of Rs.64 crore drawn on 25
banks, and vehicles worth Rs.3.61 lakh.
including who lost their hard earned money to the fraudulent City
Limouzines India Ltd in 2009 as its properties have been attached in
Chennai.
The company had by a conservative estimate defrauded around 35,000
investors from different walks of life including doctors, lawyers and
journalists, to the tune of Rs.700 crore to Rs.1,000 crore. Nearly a year
after the Economic Offences Wing (EOW) officials in Chennai had sent a
proposal to the State Government for attaching the company’s seized
properties including cash from frozen bank accounts, the Home
Department has issued an ad-interim order attaching the same.
As per the Home Department order issued recently, movable
propertiesand liquid cash worth Rs.74.98 crore have been attached. The
sum includes Rs.10.81 crore deposits in current accounts maintained in
11 banks, unpaid demand drafts to the tune of Rs.64 crore drawn on 25
banks, and vehicles worth Rs.3.61 lakh.
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