State will auction properties of Ponzi operatorshttps://indianexpress.com/article/india/india-others/state-will-auction-properties-of-ponzi-operators/

State will auction properties of Ponzi operators

The state government will auction properties of Ponzi scheme operators cheating investors.

The state government will auction properties of Ponzi scheme operators cheating investors. “Police have seized property worth Rs 891 crore in a case of defrauding 7 lakh investors in Mumbai to the tune of Rs 1,175 crore. The property would be auctioned and money paid back to investors,as per provisions of the law,” home minster R R Patil told a meeting of senior officials held at Mantralaya to discuss action against such operators. An estimated over 10 lakh people in the state have invested close to Rs 10,000 crore in Ponzi schemes.

Maratha reservation panel holds 1st meet

MUMBAI:A state-appointed committee headed by Narayan Rane to consider the demand for 25 per cent Maratha reservation in government jobs and educational institutions met for the first time at Mantralaya Monday. Apart from Rane,cabinet ministers Babanrao Pachpute,Balasaheb Thorat,Fauzia Khan,Sachin Ahir and social justice secretary R D Shinde constitute the panel.