Confiscate Maker Group's five properties worth 11 crore: High Court

Kolhapur: In the light of the Maker Group fraud case, the High Court has given orders to confiscate 5 immovable assets of the company to the government. Accordingly, on behalf of the government, the Chief Secretary of the Home Ministry has presented an affidavit seizing 5 properties worth 11 crore and freeing bank accounts of the company director and bank. Karvir Sub-divisional officer has been appointed as competent authority. This will ease the process of selling according to Mharashtra's investment rules. 

Maker Group company had collected an investment worth 200 crore from people in Kolhapur and surrounding areas and promised bigger returns. However, the company or its follower did not keep their word. Thus, a complaint was filed for the investors by Sanjay Durge and others. According to Maharashtra's Protection of Investors Act, a case was filed in December 2018 and handed over to the Criminal Investigation Department. However, according to the law, the company's assets had not been attached. That led to Sanjay Durge and other investors to file a writ in the high court. 

On behalf of the petitioners, lawyer Dhairyashil Sutar told the court that despite a 2021 request sent to the Kolhapur District Magistrate, a directive to confiscate the 5 assets was not issued by the Home Ministry. A bench led by Justice Ajay Gadkari and Justice Shyam Chandak had directed the Secretary General of the Home Ministry to issue an affidavit. The order will now ensure smooth selling of the assets and the investors are likely to get their dues soon.