Dugar Finance India Ltd.

 I. Gist of the Case

    A criminal case was registered against the Chairman and Directors of Dugar Finance India Ltd, namely 1.Darachand Dugar, 2.R.Ramakrishnan, 3.M.K.Panduranga Chetty  by Chennai Crime  Branch   on 08.12.1999 and subsequently the case was transferred to EOW II on 28.01.2000 for further investigation. The Honourable High Court in its order dated: 21.06.2000 appointed Tr.Nagarajan as Administrator to the company. Subsequently the Honourable High Court of Madras ordered the Administrator to hand over the portfolio to Official Liquidator in Company Application No.1532/2006, dated: 18.10.2006. Now the Official Liquidator has taken over the administration. Accused got a stay against all further proceeding.

  

 II. Accused Details: -

S.No.

Accused obtained A/B

1.

Darachand Dugar

2.

R.Ramakrishnan

3.

M.K.Panduranga Chetty

 III. High Lights

1.X.C.No.128/1999, U/s.409, 420, 120 (b) IPC.

2.Total amount involved: Rs.25.49 Crores

3.Total No. of depositors: 17, 928

4.Police Complaints: 101

5.Amount involved in the Police complaints: Rs.27, 10,730/- (101 depositors).

6.Refund on Police complaints: Rs.2, 69,019/- (15 depositors).

7.Balance amount: Rs.24, 41,711/- (86 depositors)

 IV. Efforts taken by EOW-II

 1.    Investigation completed and charge sheet was filed on 26.12.2005 in C.C.No.21765/2005.  
 2 .    EOW assists the OL for speedy disposal of 50% deposit amount.
 

  V. Details of property: -

            Property identified and proposal sent for Residential house at Door No.7, Peddu Naicken Street, Kodithope owned by A1  worth about Rs.30 lakhs (Identified).

VI. Latest Development: -

    Rs.30 lakhs worth properties have been identified and proposal has been sent to the Government for attachment and received the G.O.Ms.No.342/2009 Order Dt.24.04.2009. This  Case is  stay against all further proceedings in Crl.O.P.No.718/2009 by  35th Company case  court of High Court of Madras  by Hon’ble Judge Tr.Nagamuthu. Counter affidavit have obtain filed in 35th Court  of vacate  the stay It is pending in High court. 

 

 

VII. Request to Depositors

Fresh complaints if any should file form 66 to the Official Liquidator along with original FDRs and connected records. Depositor request to conduct O.L. O.L is having  Rs.1.14 lacks  cash

 

Official Liquidator,

Corporate Bhavan ( U.T.I House)
No.29, Rajaji Road IInd Floor
Chennai-600 001.
PH: 044-25271150, 25271151,25271152

Tr.R.Ruthira Sekaran
Dy. Supdt. of Police,
EOW II, Chennai-40.
Phone: 9443143281.

 

Present stage

This  Case is  stay against all further proceedings in Crl.O.P.No.718/2009 by  35th Company case  court of High Court of Madras  by Hon’ble Judge Tr.Nagamuthu. Counter affidavit have obtain filed in 35th Court  of vacate  the stay It is pending in High court.