On the auspicious occasion of Dhanteras, Chhattisgarh Chief Minister Bhupesh Baghel on Thursday transferred online to the accounts of investors Rs 7.33 crores after selling the assets of a chit fund company which had cheated them.
The strict action against Yalsco Real State and Agro Farming Ltd, which defrauded investors, came as a big relief for the investors, an official release said.
Baghel transferred the amount to the investors during a programme at his residence-cum-office here.
Baghel had already stated that mere FIRs against fake chit fund companies are not sufficient and that the government will work sincerely towards returning the investors' money by selling the assets of the company.
The Chief Minister himself reviewed the progress in the cases. During the past two years, the government had started investigating cases of fraud against fake companies to return the money to investors.
Also, cases registered against local youths working in the company were withdrawn.
The Chief Minister has stated that legal scrutiny will be tightened on fake companies.
On receipt of complaints against Yalco Real State and Agro Farming Ltd of Rajnandgaon, the Collector gathered information about its properties, holdings and assets and found a total of 292.36 acres of immovable property owned by the directors.
The final order for attachment of this land was passed by the Special Court. After this, the attached properties were auctioned. So far, Rs 8.15 crores have been received from the auction.
Claim objections were received from investors of the company from July 27 and August 20. After scrutiny, 16,796 investors were found to have submitted claims with full information.
Thus, 197 investors in Orissa, 2,971 in Maharashtra, 42 in Madhya Pradesh and 13,586 in Chhattisgarh will be paid a total of 7.32 crores via NEFT.