[ad_1]
Chandigarh: The Punjab government has started the process of taking over all the assets of chit fund company Pearl in the state. The property worth crores will be taken over by the state government after completing legal proceedings. Punjab Chief Minister Bhagwant Mann has given this information by tweeting.
Giving information in this regard, he tweeted that the government has started the process of taking over all the properties of chit fund company “Pearl” in Punjab. Mann said that after completing the legal process, it has been decided to start the process of returning their money to the people by conducting an auction soon.
CM Bhagwant Mann had said in May 2023 that action will be taken against Pearl Company, which looted crores of rupees from people. He had said that the Punjab government will take over all the assets of the Pearl Company in the state by removing the legal hurdles.
He said that the properties of Pearl Group have been identified in different districts and legal proceedings have also been initiated to acquire these properties. Bhagwant Mann said that red entries have been made in the property records so that no one can sell or buy the property.
The Chief Minister said that this group has committed a huge fraud on the people of the state due to which it will be held accountable at all costs. He said that revenue records have already been checked at the ground level to ensure transparency in the process. Bhagwant Mann said that this work was done on a priority basis so that the government could confiscate this property.
The Chief Minister said that he has Chief Secretary and DGP. directed to personally supervise the entire process for smooth and timely execution of this work. Bhagwant Mann said that this property will be sold and every penny of the people will be returned to them. He said that the state government is committed to ensure that people’s money is returned to them and exemplary action is taken against the company so that other such fraudulent companies can learn a lesson.
Government has started the process of taking possession of all the property’s of chit fund company “Paarl” in Punjab.. It has been decided to start the process of returning their money to the people by auctioning it soon after completing the legal action. ..
— Bhagwant Mann (@BhagwantMann) June 29, 2023
Earlier, the Punjab government has also conducted a high-level investigation into the matter. CM Bhagwant Mann himself gave the information about the investigation. He had spoken of issuing orders for a high-level probe into chit fund company Pearl, which created billions of movable and immovable assets. About 10 lakh people of Punjab have been said to be victims of Pearl Group’s fraud.
Earlier it had come to light that the Punjab government had supported the Lodha Committee appointed by the Supreme Court in this matter. Under this, the investors were asked to sell the assets of the Pearl Group and return their money. It may be mentioned that about 1.5 lakh investors had approached the Lodha Committee and after that the committee asked the Punjab government to auction the property of Pearl Group. The Pearl Group was accused of a scam of 48 thousand crores.
Despite the Supreme Court’s stay, the Pearl Group sold assets worth Rs 1,200 crore. Which was concluded by the special investigation team formed by the Punjab government. In the scam done by the Pearl Group, 10 lakh people were robbed of their money. Pearl Group owner Nirmal Singh Bhangu was arrested. In 2016, the Supreme Court banned the sale of all assets of Pearl Group. However, Bhangu had sold properties worth 1200 crores by 2020. This property was in Mumbai, Gurugram, Mohali.
Pearl group owner Nirmal Singh Bhangu collected the money from investors through 2 companies of the group pearl’s aggrotech corporation limited and pearl golden forest limited. In this, investors were lured that their money would be spent in agriculture, real estate, business development, housing groups, townships and building malls. In return, the investors will be given interest at the rate of 12.5 percent along with agricultural land as a guarantee.
Apart from this, the company also promised to give free accidental insurance and tax free maturity amount to the investors. Investors were promised that the investment made in their agriculture would be 4 times, but none of the investments benefited even a fraction, on the contrary, 5 and a half crore investors have suffered a loss of 60 thousand crores. In this entire scam, CBI arrested 11 people including MD of Pearl Group.
[ad_2]
Source link