The Supreme Court has asked the Maharashtra government to maintain status quo with regard to the attached properties of various companies that duped about 1 lakh investors of Rs 72 crore in 2000.
A Bench headed by Justice V S, while issuing notice, directed parties to maintain status quo with regard to the attached properties until furt-her orders.
The apex court has passed the order on a petition filed by the Mumbai Depositors and Finance Brokers Association, representing the depositors. The body alleged that both Roofit Industries and Sun Earth Ltd Ceremics had floated various fixed deposit schemes at an attractive interest rates and had fraudulently collected around Rs 72 crore from approximately 57,000 fixed deposit holders.
Roofit Industries and Sun Earth Ltd Ceremics promoter Suresh Gurubux Motwani, whose appeal is also pending before the apex court, was arrested by the economic offences wing (EOW) of the crime branch for his alleged involvement in the Rs 72-crore investment fraud under the Maharashtra Protection of Investors and Depositors? Act 1999 (MPIDA). He has been on bail since in May 2003.