Maharashtra Chief Minister Devendra Fadnavis on Monday chaired a high-level meeting at Vidhan Bhavan to review the ongoing investigation into the scam-hit Beed-based Dnyanradha Multistate Cooperative Credit Society. He directed authorities to take immediate action against the accused and ordered the prompt seizure of the society’s remaining 238 properties.
The society, managed by Suresh Dnyanobarao Kute, Yashwant V. Kulkarni, and others, allegedly defrauded over four lakh investors by promising high returns of 12% to 14% on deposits. However, investigations revealed that the management failed to repay many depositors or paid only partial amounts, leading to significant financial losses.
Fadnavis instructed police and special investigation agencies to expedite action and ensure swift justice for affected depositors.
The Enforcement Directorate (ED) had earlier conducted searches on August 9, September 20, and October 14, 2024, seizing or freezing movable assets worth Rs 10.99 crore. Additionally, the ED provisionally attached assets worth Rs 85.88 crore on September 24 and Rs 1,002.79 crore on October 9, bringing the total attached assets in the case to Rs 1,433.48 crore.
Ministers and senior officials were present during the meeting, where emphasis was laid on securing investor interests and punishing those responsible for the fraud.