1.

Total amount involved   Rs. 467 Crores.

2.

Total no. of depositors  2,02,812

3.

Police complaints Rs. 32 Crores ( 20 , 000 depositors)

4.

Amount  settled : Rs. 267,74,65,838 @ 48 %

5.

58, 738 depositors got their full amount ( for deposits up to Rs. 5,000/-)

6.

Last refund made during October, November and December  2009

7.

Remaining amount to be settled : Rs. 200,09,88,832/- for 1,44, 074 depositors.

8.

A sum of Rs. 3 Crores is available with OL for the disbursement of the left out depositors of the 8 installments. New petitions are being received fromo suoch odepositors and is being disbursed. During the months of Jan, Feb, March and April lan amount of Rs. 1,86,Cr was disbursed to  4409 depopsitors.   

9.

6 separate police final reports were filed against 33 accused in CC Nos.11457,11458, 11459/02, 6411, 6412 and 12027/03

10.

Two CCs 6144, 6412/02  ended in conviction.

11.

Seven accused convicted for two years imprisonment and Rs.10,000/- fine during March 2005.   

12.

Fast track Court confirmed the conviction during September 2006.

13.

Criminal appeal filed by the convicted accused and is pending in Hon’able High Court.

14.

Trial proceedings are  pending in other C.Cs. in the CMM Court Egmore.

15.

55 discharge petitions have been filed by the accused  and arguments completed  

7 accused discharged so far in which  7 revision cases against A12 Murughabharathy and five other borrowers namely Salim Basha, Altalf Basha, Birmal Kumar, Hubert Fenelon, Elias  filed in the  Principal Session court Chennai  are  penmding in M.P Nos. 956,957, and 5894 to 5898/2009    

Name

Principle due

Remarks

M. Srinivasalu Reddy

Rs. 170.00 Crores

Suit disposed and amount paid

J.M. Panday

Rs. 37.02 Crores.

Suit pending in company court, SLP filed by the 3^rd party is  pending in the Supreme Court New Delhi. Imp leaded by the depositors association. The Counter to be filed by the  O.L. is pending. .

Alsa Group

Rs. 19.50 Crores

Suit pending in company court

Pradeep Kothari

Rs. 15.00 Crores

Ordered to pay Rs. 20 Crores and  paid.

Thiyagaraja Chettiar

Rs. 8.55 Crores

Ordered to pay Rs. 10 Crores and paid.

Other Borrowers

76.48  Crores

22 Civil Suits pending in company court and is being conducted by the O.L.

Total

Rs.133Crores.

1.

Total no. of borrowers :79

2.

Amount due from  the borrowers Rs. 133 Crores (Principle and interest)

3.

Sreenivasalu Reddy has paid Rs. 57,65 Crores and furnished corporate guarantee for Rs. 170 Crores.

4.

He also filed consent  memo before the Honorable High Court to remit  Rs. 52 Crores  matter admitted and disposed. He was acquitted in the CMM court trial in C.C.NO. 11457, 11458/2002

5.

Pradeep Kothari agreed before  the Company Court and remitted Rs. 20 Crores and  paid fully )

6.

Thiyagaraja Chettiar agreed for Rs. 10 Crores and paid. fully..

7.

For the remaining borrowers 22  suits are pending before the Company Court. Filed by the O.L. after taking charge of the disbursement in this case since the Company Law board was terminated  on 31.10.2008.

1.

RBF, CEO Tr. Rajagopal and A1 –Subramaniam filed SLP against the orders of the 1^st Bench, High Court fixing responsibility on the CMD Tr. Subramaniam and his son Murugabarathy ( Matter pending)

2.

One SLP has been filed by Ex.CEO Rajagopal against the dismissal of the A/B/ orderd  by the Honourable High Court ( Cr No. 28/05)was allowed and A.B. was granted with condictions  The case is being Charged against the accused for the  default of Rs. 1 Cr.

3.

SLP 863//2008  filed by Bhuvaneswaran against G.O 809/2001 Mani and money group properties  belong to Subramanian was disposed and SLP allowed  too be heard in the Hon’ble High Court Chennai. . 

1.

204 Properties have been attached worth Rs. 415 Crores ( of this Rs. 390 Crores worth properties belong to Srinivasalu Reddy who is acquitted, hence further properties are  being identified).

2.

3 GOs obtained in GO Ms No. 1215/2000 , 559 & 809 /01 and interimly attached by Chief Small Causes Court.

3.

4 Company properties worth about Rs. 13  Cores are available for sale ( now with  Official Liquidator) in which the Sale auctin conducted for Rs. 40 Crores was stopped for the 9^th installment of 7% disbursement because the bidder of the property Velayutham went back after paying Rss. 28 Cr of the auction amount. The Company court ordered  for the  forfeiture Rs. 3 Crores from  the bidder.

 4.   

23 Properties in the name of the Chairman Surbmanian  was attached and handed over to the O.L for valuation and auction of the same as per  High  Court order for the liability of  the accused Subrmanian.The revaulation  is  to be done by the O.L. for auction.        

1..

6 final  reports were filed of which 2 CCs ended in conviction. Fast track Court confirmed the conviction.

2.

59 other Borrowers  cleared their arrears except 22 suit cases pending for Rs. 133 Crores. Mega Borrower J.M. Pandey  whose liability is  Rs. 81 Crore now along with the interest for the loan amount of 37 Crores  is pending for his counter and the NBW executed and he appeared in the court on 29.4.2009.    

3.

Following up the SLP’s  pending before the Honourable Supreme Court of India.

4.

Liaison  with the OL with regard to the sale of the company properties.

5.

To Expedite  the collection of money from borrowers.

6.

4 borrowers were arrested

7.

One of the borrowers/ accused Pradeep Kothari returned from Arab Country, through  Interpol  and  settled  his due amount  of Rs. 20 Crores during  2008

8.

Identification of personal properties is in progress.

9.

Out of 55 individual  Counters  filed for the discharge petitions 22 were disposed and  the proceedings are being expedited  so as to commence trail.

10.

To confirm the conviction before the Honourable  High Court, Madras against the Criminal  Revision petition pending filed by the six accused.

11.

Steps are being taken along with OL to disburse  the next 9^th installment after June 2010.