Court extends police custody of Sajnani till 5th of June.
Other directors of Temple Rose are absconding.
Case filed against Temple Rose Real Estate Pvt. Ltd (TRREPL) plotting and investment fraud is a classic example of Police Public Participation (PPP).
And that is the reason why TRREPL director - Devidas Sajnani - is behind the bars and the chances of getting investors money back have increased.
Thanks to Rajesh Puranik, Police Inspector of Economic Offences Wing ( EoW) who under the guidance of Commissioner Rashmi Shukla and DCP Sudhir Hiremath not only had a proactive dialogue with TRREPL investors but also invoked Maharashtra Protection of Interest of Depositors Act (MPID) in this case.
Under MPID competent authorities can seize and sell accused persons properties.
Even if, the accused has sold or transferred the properties to third party, authorities can seize those too.
Under MPID only the persons who have registered the complaints get their money back.
Read more at Vijay Kumbhar's Exclusive News & Analysis Blog
Related Story:
1) Pune Police arrest Devidas Sajnani of Temple Rose City Pingori Purandar
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