Ramesh Car Finance Corporation
I. Gist of the Case: -
A criminal case was registered against the Managing Directors K.Ramesh and other 6 accused by Chennai City Police on 22.11.1996
and transferred later to EOW during 2000 for further investigation.
II. Accused Details: -
There are 7
accused involved in this case, of which: -
|
S.No. |
Accused arrested |
Accused obtained A/B |
Accused absconding |
|
1. |
K.Ramesh |
1. K.Ramesh kumar |
1. Sankar |
|
2. |
Jaganathan |
2. Srinivasan |
2. Sundararaman |
|
|
|
3. Sundaresan |
|
III. High Lights
1.Cr.No.1011/96, U/s.120 (b), 409,
420, 506 (ii) and 3 to 6 PCMCS Act. 2.Total amount
involved: Rs.4.47 Crores.
3.Amount refunded by the company:
Nil.
4.Balance Amount: Rs.4.47 Crores.
IV. Efforts taken by EOW-II
1. Investigation was completed and charge sheet filed on
03.04.1997.
2. Properties at Chennai, Salem, Ernakulam were identified.
3. Obtained GO Ms.No.415 and 721 in ROC No.72439/2000 (2), dated:
18.02.2003.
4. Rent of Rs.6, 000/- per month is being collected from Salem
property by Official Liquidator.
5. Attended meetings with OL and Competent Authority for quick and
effective action.
6. Report initiated to Official Assignee for taking possession of
some of the identified properties at Ernakulam after
due verification.
7. The attached properties are being processed for sale.
V. Details of property: -
1.
Building at No.19, Beemasena Garden Street, Mylapore, Chenani-04 (Attached).
2. Building – Salem Branch office at No.19/2, Junction Main
Road, Salem was identified (Attached).
3. Commercial flat at Dr.Babu Estate, banarjee Road, Ernakulam, Cochin,
Thirukkonavattam (Identified) .
4. 4/40, Share of 13 cents in S.No.301/33 of Thirukkannar
Desam, Ernakulam village
vide DOC.No.264, 267, 291 and 293/96 (Identified).
5. Property at Salem has been evaluated and report sent from OL
office to High Court (Company Court) for obtaining orders for auction of the
property and orders are being awaited.
VI.
Latest Development: -
1. The Depositors have entered into a
compromise with the principal defaulter and that a scheme decree has been framed
in C.S.No.602 of 2006. The scheme decree provides for constitution of a
settlement committee and the committee formed will takeover the assets of the
erstwhile financial institution and
bring the properties for sale, liquidate assets, receive the process and
distribute the same amongst the depositors.
In
the order of the Hon’ble High Court
dt.16.09.2008 have quashed the Government order of attachment of properties and
have given effect to the compromise decree in C.S.No.602/2006, and to enable
the petitioners to operate fully asper the terms of
the decree.
The
settlement committee have filed petitions for the sale
order of the properties in the Hon’ble High
Court and is pending.
VII. Request to Depositors
1. The depositors are requested
to file their claim forms along with the supportive documents to the settlement
committee for reimbursement.
VIII. Present Stage of
the case.
The Depositors have entered into a compromise
with the principal defaulter and that a scheme decree has been framed in
C.S.No.602 of 2006. The scheme decree provides for constitution of a settlement
committee and the committee formed will takeover the assets of the
erstwhile financial institution and
bring the properties for sale, liquidate assets, receive the process and
distribute the same amongst the depositors.
In
the order of the Hon’ble High Court
dt.16.09.2008 have quashed the Government order of attachment of properties and
have given effect to the compromise decree in C.S.No.602/2006, and to enable
the petitioners to operate fully asper the terms of
the decree.
The
settlement committee have filed petitions for the sale
order of the properties in the Hon’ble High
Court and is pending.
|
Official Liquidator, 29, RajajiRoad, II Floor, (Opp.Beach Railway Station) Chennai-1. Ph.044-25271150, 25271151, 25271152. |
Tr. C.S.Manoharan, EOW -II, Chennai - 40 |