So many investors calls me and ask me with regard to not receiving acknowledgment card. I have no role of post office. You can esquire from post office . any claim if delivered in official liquidator officer, It will be entered in their register they can not through. Those people who say going personally is better. I do not agree with this I send My own file by speed post and and got inward no. It is all your choice . You can send Speed post with acknowledgement card/ Registered Post/ Courier/ or by person it is all your choice. I do not advice on methods of deposite,  it is your money. you know better. with Regard to claims or form -66 number of people already have written , whether right or wrong. I can not say because every investor has its own logic neither I have that much free time. Because I am Advocate . One Investor earlier I objected he says he has taken Advise of Number of Senior Supreme Court Advocates, he says I may consider your advise Though I am only a High Court Advocate. If I gets time I reply mails. My work is to put  legal advise/ or my opinion with regard to winding cases and now it is over. I do not like to criticise anyone's move. Do what you think good for yourself. It is your money , so do not forget to deposite claims. It is also your choice.

Ganaraj Sales Pvt Ltd and its Directors Shrikant Gondhalekar ( He also writes as Shrikant G, to avoid the name Gondhalekar which means 'Mess Maker' in Marathi, which he has already made of investors funds) and Pallavi Gondhalekar (most culprit women on earth) ran away with crores of hard earned money of lower middle class investors, many had invested out of their retirement funds for a steady income for retirement, some had invested for their daughters wedding, some for their childrens education and some to pay housing loan installments. All cheated investors are giving angry curses to both of them, they cannot live in peace henceforth, their future generations will be destroyed, they will die a very unpleasant death. Such people should be handed over to public by the Police and killed by stones on road.

Ganaraj Sales Directors Shrikant Ghondhalekar and Pallavi Ghondhalekar invested a huge investor fund running in crores of ruppes in a fly-by-night scheme Heavens Event Co. without the permission of investors. Investors had given money to them as fixed deposit on interest on the belief that it is used for shares, commodity and forex trading. Investors were not aware that their hard earned money is put in such bogus schemes without their permission. This is purely a mistake of Ganaraj Sales directors and they should accept the moral responsibility for the same and refund the investors money immediately. Else, this will become a very serious legal matter.

Appeal to all GANARAJ SALES PVT LTD investors - Please lodge a CHEATING and FRAUD case with Police and in Court of Law against this company and its Directors Shrikant Dattatray Gondhalekar and Pallavi Shrikant Gondhalekar under section 420 of Indian Penal Code. These culprits should be punished. Many investors have already lodged the said complaint. They have several other cases pending against them. A warrant of attachment for Rs 11.50 Lacs is already issued by Debts Recovery Tribunal on 21.01.2011. These THUGS operated and cheated people of Mumbai with the companies named Jay Ashapura Constructions and Shree Industries in Dombivli(West), Mumbai and now with the company named Ganaraj Sales Pvt Ltd in Nashik. You can get all these details from the web site www.watchoutinvestors.com which have already BLACK LISTED them and these companies



 

इमुनंतर नाशिकमध्ये आता समृध्दी घोटाळा

Monday, 23 April 2012 16:52
 
नाशिक : इमुनंतर नाशिकमध्ये आता समृध्दी घोटाळा उघड झाला आहे.  वेल्थ मॅनेजमेंटच्या नावाखाली महिन्यांमध्ये पैसे दामदुप्पट करुन देण्याची खोटी आश्वासनं देणारी समृध्दी वेल्थ मॅनेजमेंट कंपनी(Samriddhi Wealth Management Investment Fraud) हजारावर (Nasik Investors) नाशिककरांना तब्बल ३०० कोटीचा चुना लावून गायब झाली आहे. या प्रकरणी पोलिसांनी कंपनीच्या मॅनेजरला अटकही केली आहे.  आधी पतसंस्था, नंतर इंडियन इमु कंपनी(India Emu Company), मग आयएमएस (IMS) आणि आता समृध्दी.नाशिकमधल्या गुंतवणुकदारांची आर्थिक समृध्दी हिरावून घेणारा अजून एक घोटाळा उघडकीस आलाय.
हा घोटाळाही थोडाथोडका नाही तर तब्बल ३०० कोटींचा(300 crores) आहे. हो ३०० कोटींचा. शेअरबाजार Sharemarket, कमोडिटी मार्केट Commodity Market, रिअल इस्टेटच्या Real Estate Business व्यवसायात केलेल्या गुंतवणुकीवर ५ ते ८ टक्के व्याज 5 to 8% interest आणि १४ महिन्यांत दामदुप्पट(14 months double money) पैसे देण्याची हमी देणा-या समृध्दी वेल्थ मॅनेजमेंट कंपनीनं नाशिकमधून गाशा गुंडाळला आहे.

नाशिकमधल्या काही हजार गुंतवणुकदारांचे ३०० कोटी रुपये बुडवून या कंपनीचा संचालक अजय वासुदेव क्षत्रीय (ajay vasudev Kshatriya)आणि त्याची पत्नी मनिषा(Manisha) पळून गेली आहे. सोमवारी तरी पैसे मिळतील या अपेक्षेने गुंतवणुकदार मुंबई नाक्यावरच्या समृध्दीच्या कार्यालयाजवळ जमा झाले. मात्र त्यांचा हिरमोडच झाला. कारण कंपनीच्या कार्यालयाला सिल(seal to office) लागलं होतं आणि फलकासह हे कार्यालयच गायब झालं होतं.

विशेष म्हणजे १०० रुपयांच्या स्टँम्पपेपरवर अॅग्रीमेंट करुन प्रॉमिसरी नोट करुन घेत गुंतवणुकदारांकडून पैसे घ्यायचा. त्यामुळे क्षत्रीय फसवेल अशी शंका आली नाही असं गुंतवणुकदारांचं म्हणणंय. दरम्यान, समृध्दीच्या विरोधात आतापर्यंत १०३ गुंतवणुकदारांनी ५ कोटी ३३ लाखांची फसवणुक केल्याची तक्रार पोलीसांत केली आहे. एमपी़डीआयए अॅक्टनुसार गुन्हा नोंदवून घेत पोलिसांनी समृध्दीचा मॅनेजर नरेंद्र जोशीला (Manager Narendra Joshi)अटक केली आहे. समृध्दीचा संचालक अजय आणि त्याची पत्नी मनिषा क्षत्रीय मात्र फरार झाले आहेत.

दामदुप्पट पैसे करुन देण्याचा मोहात नाशिककरांनी दिवाळखोर होण्याची लुटले जाण्याची ही काही पहिली घटना नाही. पण तरीही कमी श्रमात लवकर श्रीमंत होण्याचा मोह आवरता येत नसल्यामुळे घोटाळेबाजांची नाशिकमध्ये चलती आहे.

City Limo group’s properties worth Rs 13 crore attached
C Unnikrishnan, TNN Apr 16, 2012, 03.20AM IST

MUMBAI: The Enforcement Directorate (ED) recently attached eight
properties of City Group and its chairman Sayed Masood.

City Group's companies, City Limouzine and City Realcom, had duped
thousands of people across the country by promising unrealistic
returns on their investments through various schemes. In one of the
schemes, City Limouzine offered 48% returns on investments.

The properties-located in Mumbai, Navi Mumbai and Pune-have a market
value of over Rs 13 crore.

The police had registered FIRs against Masood and other directors for
conspiracy and cheating across the country two years ago.

The ED then registered a case under the Prevention of Money Laundering
Act (PMLA). ED's case was that City Group's properties could be
attachment under the Act as they were purchased from proceeds of the
crime.

ED investigations indicate huge money laundering in India and abroad.
During the course of investigation, the ED issued a total of 14
attachment orders for movable and immovable properties registered in
the names of City Group, Masood, his wife, daughter Jabeen, son
Jibran, associate Seema Razakki and other companies controlled by
Masood. These properties have a market value of over Rs 130 crore,
said sources, adding that more attachments were likely.

The PMLA adjudicating authority has confirmed 12 attachment orders and
ED is in the process of taking over these properties.

After being in prison for over two years, Masood was released few
months ago. He submitted fake documents to obtain bail in one of the
cases.

official liquidators office address:
bank of india building (back entrance)
5th floor
near bombay high court,
flora fountain
FORT
mumbai 400023

IMPORTANT NOTE:
I HAVE PREPARED THE ABOVE INSTRUCTIONS AS A MATTER OF SOCIAL SERVICE FOR THE BENEFIT OF THE UNFORTUNATE INVESTORS, INCLUDING MYSELF.
I TAKE NO RESPONSIBILITY FOR THE CORRECTNESS OR OTHERWISE OF THE ABOVE PROCEDURE. HOWEVER, I MAY MENTION HERE THAT I INTENT TO FOLLOW THE ABOVE PROCEDURE MYSELF. YOU ARE REQUESTED TO USE YOUR OWN JUDGEMENT AND DISCRETION WHILE FILING THE DOCUMENTS. PLEASE CONSULT YOUR LEGAL ADVISOR/CA FOR FURTHER CLARIFICATIONS AND ADVICE.

New Delhi: The government is likely to form a central agency to regulate so-called multi-level marketing (MLM) schemes after the Economic Intelligence Council found they had become a “preferred” mode of fraud. In the wake of an increasing number of economic offences, the United Progressive Alliance government has also decided to set up a multidisciplinary school of economic intelligence.
The Central Economic Intelligence Bureau (CEIB), which was asked to prepare a feasibility report for establishing a new agency to monitor such schemes, has also supported the idea.
“We feel there is need for an agency to monitor MLM because the state police is not effective at all,” a senior CEIB official said. “We will soon present our report recommending the setting up of the agency to the finance minister.”
MLM refers to a system in which commissions are paid on sales to sellers, who also get rewarded for sales by people they recruit and so on. Also known as pyramid marketing or network selling, it came into disrepute after several companies, including Speak Asia Online, were accused of defrauding members.The economic offences wing of the Mumbai Police in November last year said the suspected Speak Asia Online fraud amounted to Rs2,300- 2,400 crore. Speak Asia, which conducted online surveys on a variety of products and services, had around two million Indian panellists, or members, who paid money to join the firm’s network and earn reward points for referring its offerings to friends and peers.
Speak Asia’s spokesperson couldn’t be immediately reached for comment.
The Economic Intelligence Council, headed by Union finance minister Pranab Mukherjee, will discuss the issue when it meets at the end of this month, said the official cited above.
“(There is a) need for a central agency to regulate/scrutinize the schemes at the initial stages of operation before large number of persons are cheated and operators disappear with huge amounts of money and the operations spread across jurisdictions, states and even countries,” read the minutes of the council meeting reviewed by Mint.
The schemes are currently being monitored by state governments, besides regulators such as the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi).
MLM schemes are mostly a state subject, according to CEIB. They come under RBI scrutiny if the entities running them function as non-banking financial companies, and under Sebi if listed.
However, “it would not be possible for the state police authorities to take effective preventive actions”, Intelligence Bureau director N. Sandhu was cited as having said at the council meeting, according to the minutes.
Instances of suspected fraud involving MLM schemes last year are estimated at Rs7,000 crore, said a senior intelligence official who declined to be named. Apart from Speak Asia, these included Kerala-based Tycoon Empire International and a fraud estimated at about Rs1,000 crore by the police. Tycoon Empire was not immediately available for comment.
The government’s move has been welcomed by those who run legitimate direct-selling businesses.
“The industry is filled with fly-by-night operators who are basically fraudulent in nature,” said Chavi Hemanth, secretary general of the Indian Direct Selling Association, an industry lobby group. “The regulatory body should make some stringent rules and regulations to curb these fraudulent, illegitimate operators from operating in the garb of genuine direct-selling companies.”
Stringent laws are needed to govern the entry of companies, both Indian as well as global, into this sector, she added.
A spokesperson for direct-seller Amway welcomed the initiative, saying it was long overdue and will boost confidence in the industry at large. “From the calamities of Speak Asia, Nano Excel, etc., we have reached a positive point through the emergence of this regulatory body,” he said.
This body will bring clarity to standards and guidelines for the industry, which will be good for the smooth functioning of genuine players in the market, added the spokesperson.
He said cases of illegitimate companies shutting down in Kerala 8-10 months back hurt the industry.
Nano Excel Pvt. Ltd refers to an MLM company that’s been accused of swindling about Rs350 crore after claiming to be setting up a power project jointly with the Arunachal Pradesh government, the police said. Nano Excel could not be immediately reached for comment.

Dear Sir,
I have invested Rs.128100/- in City Realcom and monthly payment of Rs.
8800/-. i got this amount two months only.
I invested on 05/06/2009.
i have receipt of 96000/- and 32010/-
and the agreement amount of Rs.528000/ -
i also invested in city hospitalizes Rs.60000/-
what should i have to do for my claim
first i lived in chennai and now i am working in Ramanathapuram.
what address should have mention now.
please clarify me a doubts.

==========

Hello Investors

Did City Limo boss con Bangalore jail staff?

Documents obtained under RTI show that Sayed Masood used an ‘NOC’ purportedly written by a Delhi court to secure bail; a week later, the same court asked prison staff to produce him before it

Mumbai-based Sayed Masood, who is accused of duping thousands of investors in the city through his company City Limouzines, have managed to walk free out of Bangalore's Parappana Agrahara jail using an NOC purportedly written by a Delhi magistrate.

Last June, Mumbai police allowed Masood to be transferred to Bangalore to face trial in two cases with clear written instructions that he should not be released directly on bail.

RTI activist R Ashok Kumar Adiga found that though Masood was released on December 27, 2011, jail officials received a body warrant from the same Delhi court asking them produce the man before it on March 1.

Adiga brought the suspicious release of Masood to the notice of Karnataka ADGP (prisons) Gagandeep KV on April 4, who has ordered a probe into the incident.

The information provided to Adiga under RTI shows that Masood obtained bail in every single case registered against him across the country. He said the prisons department did not provide him details of the body warrant from the Delhi court. However, he obtained the information directly from the court using the RTI.

"The documents given by jail authorities differ from the ones obtained from the Delhi court. I have submitted all documents to the ADGP (prisons). Action should be taken against the erring officials," Adiga told Mirror.

The departmental probe will look into aspects like the authenticity of the letter from the Delhi magistrate, whether an undertrial transferred from Maharashtra can be released in Bangalore, and whether the Bangalore prison officials received bail orders in all cases pertaining to Masood.

Speaking to Mirror, Gagandeep said he was surprised at the circumstances surrounding Masood's release, and added that the Parappana Agrahara jail authorities have sought a week's time to furnish the relevant documents to the official conducting the inquiry.

Jail chief superintendent T H Lakshminarayana denied any wrongdoing on the part of his staff. "I am confident they worked within the legal framework for his release. This seems to be an attempt to tarnish our image," he said.

Advocate F Arif Nawaz confirmed that he had given the letter purportedly written by the Patiala House judge to the city central jail officials. "Questions about its contents should be addressed to the judge," he told this paper.

Masood came up with irresistible schemes

Sayed Masood is alleged to have duped thousands of investors in Mumbai and cities like  Pune, Delhi, Chennai, Hyderabad and Bangalore to the tune of hundreds of  crores of rupees through his companies City Limouzines and City Realcom.

The companies ran schemes that offered returns as high as 48 per cent. The company had promised a Rs 4,000 return every month (for five years) on an investment of Rs 95,000. The company said the money would be invested in buying cars, which were to be registered in the name of investors and transferred to them at the end of this period.

However, in 2007, when some investors did not get their money, they complained to the EOW.

After playing hide and seek with investigating agencies and a series of unsuccessful attempts to seek court relief, Masood and his wife, Seema, who were on the run for many months, were picked up by police from Alwar district in Rajasthan in February 2010.

http://www.mumbaimirror.com/article/2/201204052012040502225693ac5f14ff/Did-City-Limo-boss-con-Bangalore-jail-staff.html

Can an investor use 2 laws to recover money?

The proceedings under the MPID Act were criminal proceedings for punishing the wrong-doer. It was held that such criminal proceedings would not debar the filing of a consumer complaint for recovery of the amount. The dispute about deposits was a consumer one. The liability was admitted by the shop owners, but they pleaded their inability to pay the amounts due in view of attachment of their property. The commission observed that no such order was filed, but even assuming that such an order was in force, it would not absolve the shop owners from discharging their liability towards the depositors. Accordingly, the revision petition was dismissed and the order holding the shop owners liable to repay the depositors was upheld.
Impact: It is unfortunate that traders and service providers often float schemes, which are attractive rather than economically viable, with a view to dupe gullible consumers. Thereafter, they waste money on futile litigation rather than gracefully pay up when caught on the wrong foot.
(The author is a consumer activist and has won the government of India's National Youth Award for Consumer Protection. His e-mail id is jehangir-gai@indiatimes.com)

I am 69 years old, after my retirement one of my close friend suggested me to invest in shivaji estate livestock & farms pvt. Ltd. But after certain years this company has winded up its setup. On spite of my various follow ups I haven’t received my money back. I have also logged complaints against them with police headquarter and also communicate with sebi but now a days I am effortless. I cannot get any status about my blocked money in shivaji estate livestock & farms pvt. Ltd..

I done following communication 
1) communication with sebi .
2) against investment of 3,000rs.
3) complaints logged in police headquarter .
4) against investment of 1,20,000rs.
5) complaints logged in police headquarter .
6) against investment of 2,25,000rs.
7) complaints logged in police headquarter .
8) complaints logged in mca .
9) complaints logged in clb .

An immediate action will be highly appreciate.

Thanking you

fraud in india is big terror

Here’s a ray of hope for investors who’ve been cheated of their hard-earned money. The state government has reinstated the Maharashtra Protection of Interest of Depositors (MPID) Act, which had been struck down by the Bombay High Court in 2005.

Last week, the state Home Department issued the order of reinstatement after the Supreme Court held the Act constitutionally valid.

SpeakAsia may slip out?

In the recent, multi-crore SpeakAsia scam, the police are however at a loss to apply the Act, which provides for attachment of properties owned by a fraudulent investment firm. The properties can be auctioned to pay off depositors’ investments.

In the case of SpeakAsia, the company is neither registered in India, nor has it bought any property here.

“The scam is devised such that it is difficult to pin them down under stringent laws. The MPID can’t be applied in SpeakAsia’s case as there is nothing to attach or auction,” said a senior officer with the Economic Offences Wing (EOW) of the Mumbai Crime Branch. “So, we have registered the case under the Circulation of Money Act.”

This act applies to cases of illegal circulation of funds.

The EOW has, however, frozen 31 bank accounts of SpeakAsia’s franchisees in India.

“We are doing all we can to recover investors’ hard earned money. We have recovered Rs 135 crore from these accounts,” the officer said. “Beyond this, we have little hope of recovering any more money. They have parked over Rs 600 crore abroad on paper. There could be more.”

The court case

The MPID was enacted in 1999 to combat fraudulent investment schemes. It rattled non-banking financial institutions so much that a consortium of 29 companies challenged the Act in the Bombay High Court, which struck the law down in September 2005, saying enactment of such a law was beyond the jurisdiction of the state legislature.

The state suspended the Act, but contested its repeal in Supreme Court (SC). The case is still on. However, the SC’s observation in a recent case has brought relief to the Mumbai police.

While hearing a case on May 11, the Supreme Court said the HC’s order of repealing the Act was not correct. “We uphold the Act’s constitutional validity,” the order said.

Armed with this order, the state last week issued an order reinstating the Act to be applied to cases of investment frauds.

Now, a better life for married Muslim women?

Consultation on codification of Muslim Family Law aimed at making laws favourable for fairer sex




Muslim women who have been getting a rough deal due to arbitrary decisions of Ulemas and the unscrupulous behaviour of their husbands now have something to look forward to. A consultation on codification of Muslim Family Law offers them a better deal with respect to marriage age, mehr (gift during marriage), polygamy, and maintenance during the marriage and iddat (separation period before divorce), divorce and irregular marriage.
The consultation for the same was held on Saturday at the SNDT Women’s University. Organised by the Bharatiya Muslim Mahila Andolan (BMMA) and Muslims for Secular Democracy (MSD), it had prominent speakers like Dr Zeenat Shaukat Ali, advocate Kirti Singh and Javed Anand, representatives from Jamat-e-Islami and various women’s group across Maharashtra participating.
While issues like the mehr amount being the same as that of a man’s annual income, the marriage age being 18 for girls and 21 for boys and the fight for better maintenance have been highlighted in the media before, the meeting delved into greater details of the marriage contract.
The draft talks of making divorce a wee bit more difficult, to begin with. “There were some customs like triple talakh that were prevalent during the pre-Islamic period and got re-introduced during the Kalipaths. At one point of time, people made a joke out of divorces. They were being given legitimacy by clergy order and laws made by Imams, which ended up eclipsing Quran. There should also be a complete ban on Halala that makes a joke of women,” said Dr. Zeenat Shaukat Ali. Halala includes making a women marry another man if she has to remarry her previous husband.
“The things being prepared in the draft are not something new. They were always there in the Quran. Due to various schools of thoughts, these issues are being dealt arbitrarily and not the way Quran talked about it. Ulemas call the triple talakh socially repugnant but also consider them to be theologically valid,” said Javed Anand.
Apart from Halala, the draft helps women to call off the marriage if her husband has deserted her and has not been around for two years. The new codification also makes polygamy conditional. “In the nikahnama, a woman can deny marriage if her husband does not accept monogamy,” said Noorjehan Safia Niaz of BMMA..
Other issues that left for discussion at a later date include custody of child and inheritance rights. “We will take them up soon. Overall it was very fruitful. We are happy that we could take them up openly as all this was not possible earlier. There are differences and they still remain but we are able to talk now,” added Niaz.

‘CAG to unearth more scams’

Anticipation for the yet-to-be tabled CAG report has managed to create a furore in the corridors of power. BJP MLA Devendra Fadnavis, who blew the lid off a can of worms by submitting the CD of the report to the speaker, has claimed that more such scams will be unearthed once the entire report is tabled. Excerpts from an exclusive interview: The leak of the CAG report may lead to breach of privilege as you could be held responsible for the leak of the report to the media… I don’t think the breach of privilege will be moved against me and even if it is moved, I am ready to face it. I have my explanations ready. My one basic question remains unanswered, even before we talk about the breach of privilege. Why wasn’t the report tabled on time, so that legislators had enough time to discuss it and raise questions over any irregularities? Once the report is tabled, the Public Accounts Committee (PAC) plays an investigatory role by summoning the officials concerned. The PAC has no right to summon ministers on its own, even before the legislature has discussed the report in the assembly. Are there more scams to be unearthed in the remaining report? Yes. As per my knowledge a big scam related to land outside Mumbai has mention in the remaining part of the report. A big politician is involved in the scam. Is he a former chief minister? Maybe. The Aashirwaad allotment appears to be another Adarsh-like scam since even bureaucrats are part of the building society; politicians owning flats in Aashirwaad have claimed to have complied with all norms… Two bureaucrats — SJ Srivatsav and Chitkala Zutshi — are implicated due to wrong interpretation. The allotment to IAS officials was as per the revised Government Regulations (GR) by the government as both of them did not own any flats in Mumbai. The CAG has also raised an objection to provisions in the GR. As far the explanations by the politicians are concerned, they have raised many further questions. Ramraje Nimabalkar has said that he has revealed his family income, while Sunil Deshmukh has claimed to have revealed his taxable income. The income revealed by these leaders in the election affidavits are disproportionate with what has been claimed here. One cannot disclose only taxable income. Other ministers too have claimed that the allotment of land to their institutions was as per the rules... No, they were not. Like for the allotment of the Sameer Bhujbal-controlled MET in Nashik, additional land of 50,000 sq mtrs was allotted to the institution despite the rule that there cannot be repeated allotments. I am not against allotting land to educational institutions and hospitals at concessional rates, but objecting against the misuse of those concessions. Questions of propriety arise in this case as the land allotted to the MET belonged to the PWD, the portfolio handled by Bhujbal. The CAG has rightly pointed out the ‘conflict of interest.’ Similar misuse was discerned for the land allotted to Sindhudurg Shikshan Prasarak Mandal, controlled by Neelam Narayan Rane. It’s also claimed by some politicians that the report was leaked by NCP leaders as political opportunism… A Let the entire report come forth, the allegations will automatically subside. There are NCP leaders who are also involved in usurping land and other irregularities, as the report points out.

मालमत्तेच्या लिलावातून गुंतवणूकदारांचे पैसे परत करणार
By auction, investor's money will given back


आकर्षक व्याजाचे आमिष दाखवून सामान्य गुंतवणूकदारांचे कोट्यवधी रुपये हडपणाऱ्या 'फायनान्स कंपन्यां'च्या मालमत्ता जप्त करण्याची कारवाई ठाणे पोलिसांनी सुरू केली असून पहिल्या टप्प्यात संचयनी, सुरभी अॅग्रोटेक, सुयोग यांच्यासह आठ कंपन्यांवर कारवाई होणार आहे.

आकर्षक व्याज आणि झटपट श्रीमंतीचे स्वप्न दाखवून राज्यभरातील असंख्य फायनान्स कंपन्यांनी गुंतवणूकदारांचे २२ हजार कोटी रुपये हडप केले होते. गेली २० वर्षे ही फसवणूक चालू होती. अशा कंपन्यांचे सर्वाधिक पेव ठाणे जिल्ह्यात फुटले होते. त्यामध्ये कल्पवृक्षसारख्या मोठ्या कंपनीचाही समावेश होता. अशा बोगस फायनान्स कंपन्यांना चाप बसवण्यासाठी राज्य सरकारने १९९९मध्ये 'एमपीआयडी' हा विशेष कायदा केला होता. मात्र, सरकारला असा कायदा करण्याचा अधिकार नसल्याचे सांगत मुंबई हायकोर्टाने तो रद्द केला.

या निर्णयाविरोधात सरकारने नोव्हेंबर २००५मध्ये सुप्रीम कोर्टात धाव घेतली होती. त्यानंतर जवळपास साडेपाच वर्षानंतर गेल्या वर्षी सुप्रीम कोर्टाने राज्य सरकारचा कायदा योग्य ठरवत या कंपन्यांवर कारवाईचे आदेश दिले होते. त्यानुसार कंपन्यांच्या मालमत्तेचा लिलाव करून गुंतवणूकदारांचे पैसे परत करण्यात येणार असल्याचे वरिष्ठ पोलिस इन्स्पेक्टर अविनाश मोकाशी यांनी सांगितले.

कारवाई या कंपन्यांवर...

संचयनी, अर्बन एच को.ऑप. सोसायटी, मणिपाल, सुरभी अॅग्रोटेक, सुयोग, सागर होम किंग, वनलक्ष्मी डेव्हलपर्स, कुदरती फायनान्स.
 Sanchayni, Urban Co-op Society, Manipal, Surabhi agrotech, suyog, sagar home king, vanlakshi developers, kudarati finance

संदीप शिंदे । ठाणे - महाराष्ट्र टाईम्स -७ एप्रिल २०१२.

(MPID) Maharashtra protection of investors deposit ( Financial Scheme )


This act came into force in 1999 against the fly-by-night companies who were collecting money from the common people assuring them for higher returns against there small investment. The amount involved in these type of companies was of the tune of 30000 crores. After receiving many complaints , the state government of maharashtra passed the act of MPID( Financial scheme).Procedings were launched against the erring companies in this act, but since the provisions of the act were in conflict with the existing provisions of other acts of center and state, the Mumbai High court quashed this act in 2005.The stae went in appeal against the order and Supreme court was pleased to grant the stay against the order passed by High Court Mumbai. Since then the matter is in abeyence and the common investors are suffering. There are many companies who are ready to pay the money to the investors, but due to lack of any instruction from Supreme court the matter is not taken by any of the Judges. What could be the possible remedies available to the company who are ready to pay their investors there principle amount?

Self-redevpt ‘trailblazer’ stuck

Alleged TDR fraud by society chairman and secretary leaves residents in the lurch



It was supposed to serve as a model for the rest of Mumbai. But the city’s first self-redevelopment project — the Ganesh Nagar ‘D’ co-operative housing society at Mahalaxmi — has been stuck for seven years now due to an alleged fraud in the transfer of development rights (TDR).
A total of 390 residents had taken it upon themselves to redevelop the housing society in 1998. With guidance from the slum rehabilitation society (SRS), they managed to raise a corpus fund of Rs27 lakh from among themselves to redevelop 3,800sqm of the plot by constructing three seven-storied buildings. They planned to raise another Rs5 crore through sale of the society’s TDR for 3,000sqm of the plot.
At the time the dream project began, the housing society laid down some ground rules for the redevelopment contractor — that it would make the payment only after three floors of the first building were constructed. The plan was to sell those flats to foot the contractors’ bills, said Govind Parit, a resident of Ganesh Nagar.
But, the residents found out that good things don’t last too long. An alleged fraud in the project committed by society chairman Bharat Gayekar has not just left them juggling their time between court dates and police stations, but it also pushed back the date of completion indefinitely.
“We were shocked when it was revealed that the chairman and the secretary of our society sold the TDR at a rate lower than that in the market. They even sold the same TDR to three different people through forged documents. It was an almost Rs5-crore fraud,” alleged Mallapa Kuruvi, former treasurer of the society, who is fighting a legal battle and dealing with various complaints filed at the Agripada police station against him by the chairman and secretary, which allege that he has been obstructing the redevelopment process. Kuruvi claimed that Gayekar was using his political clout as secretary of the NCP Mumbai Unite against him. “All government machinery, including the police, are working for them and they have been harassing us by filing false police complaints.”
Sanjay Bhudkar, another resident, alleged that the secretary and the chairman have been stonewalling the process to let the builder take over the project and to get kickbacks in return.
Gayekar rubbished all allegations against him. He claimed that construction work has been stuck due to lack of liquidity. “It’s those who have already received a house who are putting a spoke in the wheel of the redevelopment project. Not only has the SRS turned hostile, but the sale of TDR has also been blocked. We wanted to bring the developer to sort out the financial problem.”

Conwomen splurge Rs.94L booty on holiday, jewellery



It was an easy life for two women from Thane. They started a fraudulent investment scheme, allegedly cheated people of Rs94.65 lakh and splurged the invested money on vacations, ornaments and cars.
But, their luck soon ran out.
Officials of the Economic Offences Wing (EOW) of the city crime branch recently arrested Saryu Darekar, 36, a domestic help, and her friend Supriya Bhosale, 24. They are both residents of Om Sai Apartment in the Rabodi area of Thane.
Bhosale told the police that she works at a private firm and earns Rs35,000 a month. But, her claims were found to be untrue when the police did a background check on her.
On March 5, Pradeep Mahadik, a resident of Jagruti Nagar in Ghatkopar, filed a complaint alleging that he had invested money in a scheme floated by Darekar and Bhosale and has been cheated.
Explaining the scheme, a police officer said, Darekar and Bhosale used to promise people on the investment of Rs1.10 lakh and interest of Rs10,000 per month for five months and in the sixth month the principal amount will be returned to them. Further, for the next 11 months, the investors would get Rs10,000 per month.
"The scheme became a hit through mouth-to-mouth publicity and many people mostly from the lower-middle class and middle class invested money with them. As there was no proper return arrangement to the investors in this scheme, things started getting awry and soon the two women closed down their office," said an EOW officer, requesting anonymity.
He added that when the investors didn't get the promised money, they made enquiries about the two women. They were shocked to learn that Darekar and her family had toured Delhi and Kashmir, while Bhosale had toured Singapore. "They purchased expensive watches, furniture and ornaments believed to be from the money invested by people. Bhosale had also bought a car and had put up a duplicate vehicle registration number plate to avoid getting caught by the investors or police," said the officer.
Bhosale is believed to have also invested money in policies and shares, said the police, who have recovered property only worth Rs3 lakh from the duo.

Uncovered: Adarsh-like scam in Bandra

Bureaucrats, netas own flats in Bandra building built on plot meant for students’ hostel

A housing society in which top politicians and bureaucrats own flats has come up on a Bandra plot which was reserved to construct a hostel for students from backward classes. And like the controversial Adarsh society in Colaba, Bandra’s Sai Prasad cooperative housing society also violates coastal regulation zone (CRZ) rules, a query under the Right to Information (RTI) Act has revealed. Congress leader Kripashankar Singh, his brother-in-law Surendra Pratap Uma Shankar Singh, former BMC commissioner Jairaj Phatak, joint commissioner of police Himanshu Roy, several IAS and IPS officers, Ram Shankar Pandey who says he sells vegetables in the APMC market in Navi Mumbai and a school peon from Dhule with an annual income of Rs55,000 own houses in the 10-storey building with 1,500sqft flats. Phatak was on Tuesday arrested in connection with the Adarsh scam while Roy’s mother owns a flat in another controversial building — Harsiddhi in Worli. Kripashankar was guardian minister when Sai Prasad was being constructed and vendor Pandey hails from the politician’s village. Public prosecutor Ujjwal Nikam was denied a flat in the Bandra society constructed on a 1,403sqmt prime plot. On the lines of Adarsh, Sai Prasad has been constructed by breaking and flouting all norms with the sole motive of making a huge profit, claims RTI activist Anil Galgali, who got details about the controversial society under the RTI Act. Top IAS and IPS officers and several prominent politicians made an application to the state government to construct a building on the Bandra plot in 2000. In 2003, then chief minister (CM) Vilasrao Deshmukh, on behalf of the state government, sanctioned the plot for the ‘homeless’ bureaucrats and politicians at a standard 20% of the ready reckoner rate, which is less than the market price. The state sold the plot to the bureaucrats for a paltry Rs57 lakh compared to its market value of Rs8 crore. Ironically, most of the flats were leased out on rent after the building was constructed. The state government also overlooked the fact that the plot came under CRZ rules under which construction is not allowed. The names of those involved in the project are also the same as those under suspicion in connection with the Adarsh scam. Jairaj Phatak had a hand in clearing files for Adarsh. His son also owns a flat in the controversial society in Colaba. Former secretary to the CM CS Sangitrao’s daughter Rucha and brother own flats in Sai Prasad. Sangitrao’s son has a flat in Adarsh. Incidentally, Sangitrao was collector in Mumbai and Milind Shambharkar , who also owns a flat in the building, was deputy residential collector when Sai Prasad was coming up. Former BEST general manager Swadhin Kshatriya, who played a part in sanctioning the Adarsh project, also has a flat in Sai Prasad. While Kshatriya does not own a flat in Adarsh, he was not eligible to have a house in Sai Prasad by virtue of having a plush apartment in Oshiwara. Among other bureaucrats who own flats in Sai Prasd are Kishore Gajbhiye, former additional commissioner, BMC, and IPS officer Bipin Kumar Singh who was then DCP, Mumbai. The prospect of benami properties also looms large in Sai Prasad, as Abhimanyu Daga Bhosle, who works as a peon in RR Padvi Nutan high school and junior college in Dhule, also has a house. His annual income is just Rs55,000. Jairaj Phatak will have a lot of explaining to do as he had claimed in his application that he does not own a flat anywhere in Mumbai. However, within a week of taking possession of his flat in Sai Prasad on June 29, 2008, he wrote a letter to the Mumbai collector, informing him of his wish to give his house on leave and licence to a firm. Other bureaucrats, such as former additional collector HK Jawale, Dr Avinask Dhakne who was personal secretary in the CM’s office, Ajit Kumar Jain who is personal secretary to the CM, and joint commissioner of central excise department Hemant Kothikar, are the other beneficiaries of Sai Prasad cooperative housing society.