Sunpariwar Company Assets Disposal and Disbursement Committee meeting was held at Cyberabad CP Office presided over by, Sri M. Stephen Raveendra, IPS., Commissioner of Police, Cyberabad, Judicial Officer Sri Ramesh Babu and attended by the members Cyberabad DCP Crimes Smt. Rohini Priyadarshini, IPS, DCP, EOW, Smt. Kavitha Dara, Inspector Bhaskar, EOW and other department representatives RDO, Gajwel, Motor Vehicle Inspector, RR Dist., Chartered Accountant along with other officers were present in the meeting.
In Cr. No 521/2018, u/s 420 IPC and Sec 5 of TSPDFE Act, 1999 of Shamirpet PS, based on the petition filed u/s 6(4) of TSPDFE Act, before the Metropolitan Sessions Judge, Cyberabad, Ranga Reddy Dist. at LB Nagar,the court issued orders, directing the Competent Authority, i. e Commissioner of Police, Cyberabad to constitute a Committee consisting of the representatives from the Revenue, Judiciary, RTA and Registration Department wherever necessary to conduct Auction on the seized properties of the accused Methuku Ravinder and others and to disburse the auction proceeds to the depositors of the Sunpariwar group of Companies within a period of 4 months from the date of receipt of the order.
Based on the court order, the above committee was constituted by the Competent Authority and the committee meeting was held today. During the meeting, the committee discussed on various issues related to auction of the movable and immovable properties, modalities and procedures to be followed in auction of properties, identifying and enlisting the deserving depositors and the transparent system to be adopted to conduct public auction and distribute the amount to the depositors in proportion to their investments in the company.
The committee deliberated on the issues related to e-Action, auction of vehicles and immovable properties, fixed timelines for each task and decided to meet on a weekly basis to complete the task as per the court orders. Based on the directions given by the CP, Cyberabad, it was also decided to submit periodical progress reports to the Hon’ble Court in order to keep the court informed about the proceedings from time to time.
