ALWARPET BENEFIT FUND LTD.
I. Gist of the
Case
On the
basis of complaints for non refund of deposit amount, a criminal case was
registered against ABF directors by Chennai City Police, CCB on 26.08.1999, later
transferred to EOW-II Chennai on 15.01.2000 for further investigation. On the
orders of Honourable High Court Justice Tr.Raman., (Retd) was appointed
as Commissioner to take over the management on 28.10.1999.
II. Accused Details:
|
S.No. |
Accused Arrested |
Anticipatory Bail |
Proclaimed Offender |
Absconding |
|
1. |
K.Sp.V.Shanmugam |
Muthusamy |
K.Sp.V.Shanmugam |
Rajarathinam |
|
2. |
Harshavardhan |
Karithikeyan |
Harshavardhan |
|
|
3. |
Unnamalai shanmugam |
|
|
|
|
4. |
Magesh |
|||
|
5. |
Sivagnanam |
|||
|
6. |
Arunkumar |
|||
|
7. |
Namachivayam |
|||
|
8. |
Sugumar |
Accused Rajarathinam is settled at London and
extradition proceeding is in progress through Interpol, CBI, New Delhi. Red
Corner Notice issued.
III.
High Lights
1.Cr.No.993/99, U/s.406, 409, 420,
506 (ii) r/w.120 (b) IPC
2.Total amount involved: Rs.118 Crores
3.Total No. of depositors:
46,000
4.Police Complaints:
Rs.2,25,59,000/- (441 depositors)
5.Amount settled:
Rs.65,04,41,000/- (51 %)
6.Depositors benefited fully: 10,632
[Deposits up to Rs.6,000 so far completed]
7. Depositors benefited
partly: 35,368
8. Refund of 10th Installment
has completed by February 2011.
9. Action is being taken
in association with the Commissioner for the speedy sale of properties
attached.
10. New Commissioner
Justice Tr. Raman assumed charge on 12.02.2007.
11. Nearly 1000 cheques returned is now instructed to intimate the
depositors who did not receive 10th installment to contact the commissioner,
Tr. Raman, ABFL, No.42, C.P.Ramasamy Road, Alwarpet ,
Chennai-600 018. PH: 044-2498490, 24993994 & 24994062
IV. Efforts
taken by EOW-II
1.
Investigation completed and charge sheet filed in 2005.
2. 3 accused have been declared as Proclaimed Offenders.
3. EOW assists the Commissioner in the collection of
money from borrowers.
4. A sum of Rs.2 Cores was collected from the borrowers
during the year 2006.
5. OA was filed for absoluting
the properties (Authorization GO received) worth Rs.20 Crores.
2.
6. On the look out notice information was received from Bangalore
Airport immigration authorities on 13.07.2010 that the proclaimed offender A3. Unnamalai Shanmugam was detained on her
arrival from Kolalambur was arrested and brought to
Chennai, produce before CMM, Egmore, and remanded.
V. Details of property:
1. 20
Immovable properties worth about Rs.18 Crores and
movable properties worth about Rs.2 Crores (Cash and
Shares) have been attached and is with the Commissioner for further progress
(Attached).
VI. Latest Development:
1. Payment of 10th installment
amounting to 51% of the deposit has been completed.
2. Rs. 1.355 crores was received by the
commissioner ABFL after the sale of the
properties at Karaikudi, Abiramapuram
and is taking steps to accumulate for
the 11th installment disbursement by getting order for the sale of
other properties.
3. The Income Tax Department have refunded Rs. 15,70,230/- for the Assessment year 2009-2010 and
Rs. 4,25,550/- for the Assessment year 2010-2011.
4.
The ABFL Commissioner sent cheques to
some of the depositors who have availed loan against their deposits after
adjusting the loan amount.
5.
53.16 acres of land at Ibbinvalavadi
Village, Madikkeri Taluk, Coorg, Karnataka state property has been sold by the Hon’ble High Court of Madras for Rs.
2,28,35,600/-. The Purchaser has been given six weeks time for remitting the
sale amount.
6.
VII. Request to Depositors
In case of any further information required on refund, the depositors may contact
the Commissioner.
|
Justice Tr. RAMAN, (Retd.), |
Tmt.Anarkali Begum, TNHB Complex 3rd Floor, 2nd Avenue, Anna Nagar,
Chennai - 40 |