Investors to hold meet at Hingoli on Tuesday

NASHIK: The action committee fighting the cause of duped investors in the multi-crore KBC scam case has organized a meeting of investors from across the state at Hingoli on Tuesday to echo their demand of auctioning the assets of the directors of the company and distributing the money among the investors at the earliest.
Karan Gaikar, president of the committee, said that thousands of families from across the state were duped of nearly Rs 1,000 crore in the KBC scam.It was time the new government took up the auctioning the assets of the company directors sealed by the police and started distributing money to the investors at the earliest, he added.
"Before the elections, the candidates had made big promises of delivering justice to the people duped in the investment scam. The duped investors have high hopes from the new government," said Gaikar at a press conference organized in the city on Saturday evening.
The committee had chosen Hingoli for the next meeting of the investors as it was close to Nagpur, where the winter session of the state government would also get underway, he added. "We would ensure that our demands are heard at the winter session of the state government," Gaikar said.
He further said that there were at least 15,000 to 20,000 people affected by the KBC scam in every district of Maharashtra.
"The government should see to it that main accused in the case, Bhausaheb Chavan and his wife Arti, hiding in Singapore, are brought into the country at the earliest. The duped investors should also be rehabilitated on the lines of the Sharada chit fund scam," he added.
The Nashik Economic Offences Wing (EOW) has seized assets worth crores of rupees from the eight accused they have been arrested so far in the scam case.
On July 11, the city police registered offences against ten persons accused in the case, on charges of cheating under various sections of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (MPID) Act.
The ten accused are Bhausaheb Chhabu Chavan, Arti Bhausaheb Chavan, Bapusaheb Chhabu Chavan, Pankaj Rajaram Shinde, Nitin Popatrao Shinde, Sanjay Wamanrao Jagtap, Nanasaheb Chhabu Chavan, Sadhana Bapu Chavan, Bharati Mandalik Shiledar and Kaushalya Sanjay Jagtap.
The main accused in the case, Bhausaheb Chavan and his wife Arti Chavan, are still at large. Senior police officials said that a red corner notice against the two has already been issued.