Investors who have lost their money in scams and multi-marketing cheating cases involving many organizations including the Mumbai district cooperative bank are likely to get back their money soon as the state government has appointed 49 new competent authorities to decide as many as 101 cases registered under the Maharashtra Protection of Interest of Depositors Act.
The total amount of money stuck up in these scams counts Rs. 10,000 crore, reports Times of India.
One of the big cases competent authorities will focus on will include the Mumbai District Cooperative Bank.
Police sources say while seized properties of the accused in all the above cases await disbursement among the victims, the city police has sent a proposal to the state for several amendments including the appointment of CA for a speedy return of public money, said police sources.