BUSINESS
Additional Chief Secretary (Home) is also expected to make a presentation of the MPID Act and the manner in which it could be applied on bogus chit fund companies.
Chit fund companies operating in Maharashtra have come under the scanner of the state government which is considering to take strict action against these dubious establishments to recover investors' lost money.
Chief Minister Devendra Fadnavis has called a meet of SEBI officials, the Enforcement Directorate and police officials to take a final rpt final decision in this regard.
On June 9, BJP MP Kirit Somaiya had submitted a list of 162 companies to the Security Exchange Board of India (SEBI) and Fadnavis in connection with the matter.
On action by the state government after the submission of the companies' list, Ranjeet Patil, Minister of state for Home (Urban) said, "the state government is considering to take strict action against chit fund companies and hence
Chief Minister has called a meeting next week." Somaiya had claimed that the bogus chit fund companies have duped investors in the state to the tune of Rs 40,000 crore. After his submission of the list, Fadnavis had asked
Additional Chief Secretary of the Home department to probe into the issue.
"We have a challenge before us to recover the huge investments of small investors that are stuck in sealed bank accounts of bogus chit fund companies. We have also seized properties of such companies and some chit fund companies continue to operate their businesses," Patil said.
"The CM is in favour of investors and wants to take action against bogus companies. He wants to discuss the aspects of the Maharashtra Protection of Interest of Depositors (MPID) Act, if applied against chit fund companies and hence has called a joint meeting on June 22," Patil said.
Additional Chief Secretary (Home) is also expected to make a presentation of the MPID Act and the manner in which it could be applied on bogus chit fund companies.
Patil further said that a few foreign companies had approached the state government in January this year and had shown interest in helping the government to recover money from chit fund companies.
While refusing to name the companies, Patil said that though it is pre-mature to say anything much but the government may conduct an auction of seized properties of chit fund companies.
"We might consider auctioning the properties of these companies to repay investors," Patil said.
DNA TV Show: Congress not to contest UP by-polls, lends 'unconditionally' support to SP
Venom The Last Dance movie review: Tom Hardy's final Marvel outing is a king-size disappointment
Pushpa, Stree 2 choreographer Jani Master gets bail in sexual assault case
Who is Justice Sanjiv Khanna, the next Chief Justice of India?
KL Rahul rejects retention offer from Lucknow Super Giants, set to enter IPL 2025 auction: Report
Mukesh Ambani's Reliance to give bonus share ahead of Diwali, check last date to apply
When Hollywood actress Natalie Portman insulted a BIG Bollywood megastar, he was asked to 'get lost'
J-K: 2 porters killed, 3 soldiers injured after Army vehicle attacked in Gulmarg
Shah Rukh Khan is back on small screen with legendary tale, it will lead up to…
Pre-Diwali Skincare: 5 quick tips to achieve flawless skin this festive season
Bomb threats to Indian planes continue: More than 80 flights receive fresh security alerts
Mumbai Police arrests vegetable seller from Jamshedpur for sending death threat to Salman Khan
'Dukh toh hota hi hai': Ex-India star blames MS Dhoni for dropping him at the 'peak of career'
Amitabh Bachchan defended Aishwarya Rai after she opted out of this film due to...
THIS company lost Rs 36430 crore in 6 hours, it's not Mukesh Ambani's Reliance, Tata Motors
Narak Chaturdashi 2024: Know the date, time, rituals, significance of Choti Diwali
'Attitude is...': Ex-Tesla employee shares experience working with Elon Musk
IND vs NZ: Washington Sundar scripts history in Pune, becomes first Indian to achieve big feat
Mukesh Ambani hails Meta CEO, says Mark Zuckerberg will go down in history for...
SC issues notice to Ajit Pawar on Sharad Pawar faction's plea over NCP 'clock' symbol
'UPSC hotspot': THIS college produces most IAS, IPS officers every year
Unlock the Power of Quick Recovery: Why every windows PC needs RestoreX360
Royal Enfield first electric bike spotted, it will be unveiled on…
'Dead' baby found alive during funeral in..., what happened next will SHOCK you!
Anil Ambani gets good news ahead of Diwali, his Rs 17016 crore company receives...
Apple iPhone 16 pro is now available for just Rs 52,930 on Amazon, how you can grab this deal
Diwali 2024: 5 vastu-friendly home decor tips to welcome wealth, prosperity this Deepawali
'Breasts, not oranges': Cancer awareness campaign by Yuvraj Singh's NGO draws flak, DMRC recalls it
Virat Kohli reveals being in tears while talking to Anushka Sharma following THIS incident
Man kidnapped from chaat stall, but there's a twist, watch viral video
IND vs NZ: R Ashwin goes past Australia's Nathan Lyon to set new World Test Championship record
Dhanteras 2024: Date, significance, shubh muhurat and more
Nvidia rolls out Hindi-language AI model in India: What is it and how will it work?
Netizens not happy with this billionaire's apartment in Bengaluru, says, 'you can afford better'
'Kejriwal, Atishi looted Rs 8,500 crore for...': BJP protests at Yamuna's Chhath Ghat
Cyclone Dana trains cancelled: Over 300 trains cancelled, check full list here
Bengaluru school's Rs 1.5 lakh fees for Nursery sparks controversy, parents' reaction goes viral
THIS rule will change from November 1, Airtel, Jio, Vi, BSNL users should pay attention, it will...
Video of man dancing around Russian woman at India Gate goes viral, sparks online debate
Innovating the Future: Aniruddh Tiwari's visionary advancements in AI and aata analytics
Revolutionising Enterprise Data Frameworks: How one lead data engineer is driving innovation
Pakistani model's BOLD move, walks Miss World ramp without...; watch video
What role did IAS officer Srushti Deshmukh's family play in her UPSC success? Details here
BIG allegation against Donald Trump, ex-model says former president groped her in front of...
THIS rule made by Ratan Tata won't allow Noel Tata to become Tata Sons chairman, it is...
JioHotstar domain acquired by Delhi-based app developer, he now wants Mukesh Ambani's Reliance to...
Alia Bhatt was totally smitten with Aishwarya Rai's dance videos because...
Ind vs NZ 2nd Test: When, where to watch India vs New Zealand 2nd Test match live
When Salman Khan broke his silence on blackbuck case: ‘Just because I cannot…’
Hyundai Motor India launches historic IPO, paves way for innovation and growth in automotive sector
BIG change in world's richest people list: Mukesh Ambani, Gautam Adani's fortunes now...
Ananya Panday gets trolled for her outfit, netizens say ‘she is getting Janhvi-fied’
Tom Holland confirms Spider-Man 4, reveals film will go on floors in...