The Commissionerate Police have written to the State Finance Department for annulment of property of non-banking financial company Artha Tatwa Group that allegedly duped investors of more than Rs400 crore.
In the first phase of the annulment report, the police have attached the company’s property of Rs150 crore including 122 acres of land, 11 cars and bank balance of Rs2 crore and submitted to the Finance Department for annulment of the assets.
Out of the 20 organisations of the AT Group, police sources said, nine companies have been taken to the custody of the Commissionerate Police.
Twin City Police Commissioner Dr RP Sharma said they would mention the names of 40 persons, who had taken money from AT Group chief Pradeep Sethi, in the second phase of the annulment report.
Notably, 25 cases have been registered against the AT Group across the State. The company duped investors of more than Rs350 crore, said the police sources.