State speeds up process to attach assets of fraud firms
Mumbai, Aug. 7 -- The Maharashtra government wants to speed up the process of attaching properties of firms involved in cheating and swindling investors' money. It has stipulated specific deadlines for the police and district collectors, among other authorities, to submit proposals to issue a government notification necessary for attaching such properties.
The state government has given district collectors 10 working days to respond to such proposals with recommendations and another 10 days to the joint commissioner of police or additional director general of police to scrutinise the proposals and submit them to the government for issuing orders.
The state home department issued an order to this effect on Tuesday. The decision was taken after the government noted delays in receiving proposals from the administration, which slowed down the process of delivering justice to victims, officials said.
Properties of firms involved in fraud can be attached only by issuing a government notification after senior police officers-either the joint commissioner of police (Economic Offences Wing) or the joint commissioner of police (Law and Order) in Mumbai, and the superintendent of police for the rest of the state-submit a proposal for the same. Once the proposal is moved, the district collector is expected to verify the details and return the file to the police with their recommendations.
However, the government observed that it was not receiving the proposals within the expected timeframe, either because of a delay from the district collector or the additional director general of police (EOW), said a senior official from the state home department....
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