A special court on Wednesday allowed the deputy collector’s office to proceed with the auction of a property in connection with the cheating case registered against the Yash Birla-promoted Birla Power Solutions Pvt Ltd. During the previous hearing, counsel for the firm had given its no-objection to liquidate the property situated in Oshiwara and to distribute the sale proceeds among the depositors.
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On Wednesday, at the special Maharashtra Protection of Interest of Depositors court, the deputy collector, who is the competent authority in the case, submitted a draft notice and a notice for sale to be published in a newspaper for the auction. Advocate Ramakant Gaur, representing Birla, told the court that a no objection to sell the property was already given, which means that the property has been surrendered and the auction should be done as per due process of law. Special Judge DP Surana directed the deputy collector’s office to proceed with the auction sale with orders to complete the process within 15 days of the publication of notice in a newspaper.
Meanwhile, the Mumbai Economic Offences Wing, which is investigating the case, has filed its reply on the bail plea of the accused, including Birla.