Cuttack, May 18: The court of additional district & sessions judge here today gave the go-ahead for public auction of Safex Infra India Limited's properties, which had been attached during the economic offences wing's inquiry into the Ponzi scam.
The attached properties include nearly 14 acres in Ganjam district and Rs 5.68 lakh in cash.
"This is the second order to be passed in the state by the designated special court under the Odisha Protection of Interests of Depositors (In Financial Establishments) Act, 2011, for public auction of attached property of a sham deposit collection company," additional district magistrate, Cuttack, Bibhuti Bhusan Das told The Telegraph today.
The designated court had issued the first order on February 25 in case of the Rose Valley Group of Companies. On the wing's proposal, along with property details, the state finance department had, in January 18 last year, issued an ad-interim order for the property attachment of Safex Infra India Limited under the act.
Subsequently, the finance department had on February 15 last year directed the additional district magistrate (the competent authority under the act) to file a petition before the designated court for making the ad-interim order absolute and direction to sell the attached property by public auction.
The designated special court endorsed the petition today in an ex parte order as none from Safex Infra appeared in the case. "In his order, additional district & sessions judge P.K. Sasmal made the attachment order absolute and directed the applicant petitioner-cum-competent authority, Cuttack, to sell the properties attached by public auction and release the sale proceed for equitable distribution among the depositors the money attached and realised out of the sale," special public prosecutor Subrat Mohanty told The Telegraph today.
The attached properties included prime lands at Chatrapur, Purushottampur and Berhampur and Rs 5.68 lakh in cash. Safex Infra managing director Firoz Khan had purchased the land in his own name and some officials of the company. Khan has absconded after collecting huge amount from the public in the name of the company.
The firm had offices in Bhubaneswar, Chhatrapur and Berhampur. The CID-crime branch had registered a case against it under Section 420 of the IPC and sections under the Prize Chits and Money Circulation (Banning) Act, 1978. It came under the crime branch scanner due to its monthly return and land schemes for the depositors.
Criminals in net
Police have arrested Michel alias Kailash Singh, the mastermind of a criminal gang. Michel has 17 cases registered against his name at several police stations in Rourkela and nearby areas. In another development, the police arrested one Ashish Panigrahi in connection with a loot case. Ashish had allegedly looted Rs 1,500 cash and 20litres of diesel from one Pandaram Behera of Kenghati in Sambalpur.
