Shreesurya properties, cos attached, Wasankar next

NAGPUR: The district administration has attached properties, companies and bank accounts of Shreesurya Investment and Company and is set to do the same with Wasankar Wealth Management Company, which too has assets worth crores. The development may not cheer investors as the district administration has attached properties of 20 such firms running Ponzi schemes since 2001, but investors are yet to get their money back.
The officeof sub divisional officer (SDO) attached Shreesurya’s 43 properties, 17 companies and 60 bank accounts. The state home department had issued notification approving attachment of Shreesurya’s properties on October 9, 2014.
The SDO office had also submitted a proposal seeking permission to attach the properties of Wasankar. Four more proposals regarding Raviraj Investment and Strategies, Galaxy Associate Company, JS Capital Services and Veetel Company are pending.
However, the district administration can now attach properties itself following the latest notification which empowers it to proceed without seek government approval. Since the SDO office had already submitted the proposal in Wasankar’s case, it is waiting for them to be sent back to act.
In the notification, the government cited provisions of section 4(1) and section 5 of The Maharashtra Protection Of Interest Of Depositors (MPID) Act, 1999, for attachment of Shreesurya properties. The government had stated that all these assets have been attached assuming they were purchased with the investors’ money.
According to the SDO data, Shreesurya and its related companies and directors had purchased 43 properties between January 2007 and July 2013 and floated 17 companies between 2006-07 and 2011-12. These properties are situated in various parts of the state and Raipur in Chhattisgarh.
The SDO has attached the properties and filed a petition with the High Court. Official from district administration told TOI that the properties will be auctioned after the court’s orders. “The money recovered from the auction will be distributed among investors. Letters imposing ban on sale deeds of these properties have been sent to all registrars.”
Though the investors can hope to get something from properties, the companies and bank accounts may not yield much. In Shreesurya’s 60 bank accounts, the attached amount is between Rs96 and Rs1.44 lakh. The companies registered with the Registrar of Companies and Registrar will not have much financial deposits or value.
The cases regarding 20 firms, whose properties, companies and bank accounts were attached from 2001, are pending with either the special or district courts. The five proposals pending with the government include two from January this year and three from March 2014.
PROPERTIES OF FIRMS ATTACHED SO FAR
*Shreesurya Investment and Company
*Haribhau Manchalwar and Others
*Kanad Finance and Investment
*Vapes Shagun Marketing Pvt Ltd
*Auston Multi Marketing
*Life Impression Division of Decide and Concerns Pvt Ltd
*Samruddhi Savings and Investment Company
*Dias Universal Marketing Pvt Ltd
*Kalparush Marketing Pvt Ltd
*Shivaji Estate Live Stock and Farmers Pvt Ltd
*Shivalaya Housing and Finance Company
*MLM Grahak Care Taker Marketing
*Shreekrupa Udyog Group
*Cosmo Networking Family Pvt Ltd
*Vidarbha Business Finance and Small Investment Ltd
*Anusuya Investment Finance
*Rajesh Traders
*Ashok Safe Deposit Vault Ltd
*KDK Agro Pvt Ltd
*Mehta Plantation Private Ltd
*Forward Securities
ATTACHMENT PROPOSALS PENDING
*Wasankar Wealth Management Company
*Raviraj Investment and Strategies
*Galaxy Associate Company
*JS Capital Services
*Veetel Company
OWNED BY SHREESURYA
43 properties, 17 companies and 60 bank accounts
Four old houses at mouza Sitabuldi
Eight plots at Sonegaon village near Katol, Borgaon, Ajni, Somalwada, Pande Layout besides Raipur
Two layouts at Khel Krushnaji and Anjangaon tehsil in Amravati district
15 flats at Borgaon, Dhantoli, Pratap Nagar besides Raipur, West Mumbai and Kalyan
11 lands at mouza Khel Krushnaji, Anjangaon tensil in Amravati district, mouza Kavdasi (Barad) near Bhivapur, mouza Satanwari near Nagpur
Two industries Shreesurya Dairy and Farms at Chandrapur Industrial Area and Vaibhav Agro Industries, Butibori
One duplex at Hazaripahad