Karnataka - Bangalore

Property of accused in cheating cases to be attached

Bangalore: The city police have decided to go for attachment of fixed and movable properties of the directors of the companies accused of cheating. “If necessary, we will auction the properties by obtaining the permission of the court and deposit the sale proceeds to the court,” said Police Commissioner Shankar M. Bidari on Sunday.

Mr. Bidari said such a measure would go a long way in helping the gullible persons get back the money they had invested. “We will invoke provisions under the Karnataka Protection of Interests of Small Depositors in Financial Establishments Act and the Prevention of Money Laundering Act, 2002. We hope that this will prevent the companies from cheating people,” he said.

The police say the measures are in response to rise in the number of cheating cases.

While 20 cases of cheating have been filed against the Orange Constructions and Infrastructures, similar cases have been filed in Jeevanbimanagar and Indiranagar police stations against directors of the Country Club.

There are cases of cheating against the Frontier Group, Infoscience and the Tulsian Ideas.

Mr. Bidari said all the cheating cases will now be investigated by the Fraud and Misappropriation squad of the Central Crime Branch (CCB). The investigation officers of these cases have been asked to submit a report regarding the extent of cheating by these firms so that decision could be taken on what to do next.

Mr. Bidari has asked his officers to closely monitor the investigation of cases of cheating.

The Deputy Commissioner of Police will look into cases in which loss is more than Rs. 50 lakh. Jurisdictional Assistant Commissioner of Police will review cases in which the loss is less than Rs. 50 lakh.

Mr. Bidari said the police would help people recover their money from the guilty in cheating cases.

© Copyright 2000 - 2009 The Hindu