Adarsh scam: 31 properties set for auction

Lokmat News Network

Chhatrapati Sambhajinagar

The Adarsh Urban Cooperative Credit Society set to send a proposal to the DGP office to auction 31 properties worth Rs 35.14 crore. Earlier, an auction for 46 properties valued at Rs 58.18 crore had been approved, but the committee has yet to take action.

The Home Department approved an auction of 46 properties worth Rs 58.18 crore on August 14, registered under the personal names of the society's directors and managers. CM Eknath Shinde instructed the District Collector to speed up the process. Although the auction were to begin in September, no action has been taken as of November, reportedly due to revenue officials' election-related workload.

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What is the second proposal?

Excluding the previous 46 properties, the Economic Offenses Wing has identified 31 more properties linked to Adarsh Society and Ambadas Mankape, worth Rs 35 crore. These will be auctioned, raising the total expected recovery to Rs 94 crore from 71 properties. Inspector Sambhaji Pawar's team has prepared a proposal for approval to auction these 31 properties.

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Mankape's Financial Frauds

2016 to 2019 - Mankape was involved in a scam worth Rs 103.16 crore. 2018 to 2023- Scam amounted to Rs 99.07 crore.

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Properties Set for Auction

Mankape Family: 46 properties

Adarsh Group: 19 properties

Mankape & Other Directors: 39 properties

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The challenge ahead

Fraud Amount: Rs 287.77 crore

Total Depositors: 92,164

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Minimal response to auctions

The Registrar office has auctioned only three properties so far. Due to low response in seven rounds for 15 other properties, they will now included in the upcoming auction of 31 properties.

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Depositors can claim refunds

As of Wednesday, Rs 2.56 crore has been refunded to 2,596 depositors. The society still holds Rs 1.5 crore to refund 25,900 depositors, but many have not yet claimed their refunds. Administrator Suresh Kakde confirmed refund will be processed promptly as soon as the depositors submit their applications.