Published On : Thu, Oct 11th, 2018

Shreesurya Investment Scam : Seized properties to be auctioned on OCT 12

Nagpur:The multi crore fraudster company Shreesurya group’s assets is all set to go under the hammer as the company failed to pay up for the investors who were defrauded. The offence of fraud, cheating and duping the gullible investors was lodged against the Shreesurya Investment Group and its Chairman Sameer Joshi five years ago. Now the seized properties of group would be auctioned on Friday, October 12. To begin with the seized vehicles of Shree Surya group would be put to auction on Friday afternoon at the office of Sub Divisional Officer (SDO) Nagpur city and Competent Authority under MPID.

The details of seized properties are available on the website of Nagpur Collectorate ( and interested persons can participate in the auction, informed SDO (Nagpur City) Shirish Pande. The special court (MPID) had already fixed the charges against Shreesurya Chairman Sameer Joshi, his wife Pallavi and nine others under section 406, 409, 420, 201 and 34 of Indian Penal Code (IPC), read with Section 3 of Maharashtra Protection of Interest of Depositors Act, and Sections 45(S), 58(B) and 5(A) of the Reserve Bank of India Act.

The court had accepted the prosecution’s request to clamp section 409 (criminal breach of trust) of the IPC in which life imprisonment can be awarded to scamsters. Other accused in the case are Shrikant Prabhune, Nishikant Mayee, Dilip Dange, Mohan Pitale, Mukund Pitale, Nitin Keskar, Shantanu Kurhekar, Anand Jahagirdar and Manoj Tatwavadi. Ranapratap Nagar had registered the offence against the accused persons following a complaint lodged by Amit More, a resident of Somalwada, and others on September 14, 2013.

The High Court had directed the trial court to complete the trial within one year. Economic offences Wing (EoW ) had filed a voluminous charge sheet against Sameer Joshi, wife Pallavi and 9 others before the Special Judge charging them with duping gullible investors to the tune of hundreds of crores. EoW had received complaints against the accused from a total 1,244 investors.The accused were charged with defrauding the investors to the tune of crores of rupees by promising them astronomical returns.