A major development has taken place in the investigation into the financial scam in the state-famous Gyanradha Multistate Credit Society. The investigation, which was being conducted by the Economic Offences Wing till now, will now be directly handed over to the Criminal Investigation Department (CID). The necessary procedures have been completed for this and only a written order is awaited.
Scam hits depositors hard
The headquarters of Gyanradha Patsanstha is in Beed. It had 51 branches across the state. Due to the massive irregularities in the management of the institution, the investment amount of Rs 3,317 crore of more than 2 lakh depositors is stuck. This has created fear that the lives of many citizens will be ruined.
Accelerate the process of confiscating the assets of the scoundrels and directors
The Economic Offences Wing has initiated the process of confiscation of 80 properties of the board of directors including the family of Suresh Kute, the main accused in this case, under the 'MPID' (Maharashtra Protection of Interest of Depositors Act). The proposal submitted for this has also been approved by the government.
ED also takes action; Money sent to Hong Kong
The central government's Economic Investigation Agency (ED) has also taken note of this case. The ED's preliminary investigation has revealed that Kute transferred a large amount of money to Hong Kong. This has deepened the case and there are indications that it is an international financial crime.
Discussion in the assembly session as well
The financial crisis caused by the Gyanradha scam was also taken note of in the Legislative Assembly. Many MLAs demanded immediate and stringent steps to protect depositors.
The fight for justice for depositors continues.
Meanwhile, depositor organizations have continued their agitation to seek justice, and now that the investigation has been transferred to the CID, strict action is expected against the culprits.