Dugar Finance India Ltd.

 I. Gist of the Case

    A criminal case was registered against the Chairman and Directors of Dugar Finance India Ltd 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.
 II. Accused Details: -

 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, 10,749/- (101 depositors).
6. Refund on Police complaints: Rs.2, 69,019/- (15 depositors).
7. Balance amount: Rs.24, 41,730/- (86 depositors)

 IV. Efforts taken by EOW-II

 1.    Investigation completed and charge sheet was filed on 27.12.2005 in C.C.No.21765/2005.  
 2 .    EOW assists the OL for speedy disposal of 50% deposit amount.
 3.    Attending the meetings with OL for quick and effective action.

 V. Details of property: -

            Property identified and proposal sent for Residential house at Door No.7, Peddu 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. Case is pending trial.

VII. Request to Depositors

1. Fresh complaints if any should file form 66 to the Official Liquidator along with original FDRs and connected records: -