E-Paper
ATS-CID nabs 2 fraudsters on the run for 20 years
They were caught on June 19 in Lucknow and produced before a court in Nagpur on Friday, which remanded them to police custody till June 25
A joint team of Maharashtra Criminal Investigation Department (CID), headquartered in Pune, and Anti-Terrorism Squad (ATS) of Uttar Pradesh police, arrested two accused directors of Galaxy Group who were wanted in cheating cases registered across the state. The duo was nabbed after several failed attempts over the last 20 years.
The arrested have been identified as Satishchandra Bhagawatiprasad Mishra (65) and Ramkrishna Premchand Dube (58), both natives of Khalilabad, Sant Kabirnagar. They are wanted by CID in 26 offences. They were caught on June 19 in Lucknow and produced before a court in Nagpur on Friday, which remanded them to police custody till June 25.
According to CID officials, various offences were registered against the said group in Madhya Pradesh, Rajasthan and Uttar Pradesh.
Former Maharashtra ATS chief Atulchandra Kulkarni, who took charge of the state CID last month, requested ADG Asim Arun of Uttar Pradesh ATS to arrange a joint operation to nab the accused. The joint team arrested the two after tracking for four days.
CID, Pune needs to detain remaining absconders such as Pramodkumar Ganga Pande, Ghanshyam Kalidas Pande, Maifatullah Khan, Rahefirdous Aaftab Siddhiki, Satendra Vashishthya Tripathi, all from UP.
The investigation was led by DIG (EOW) Jalinder Supekar, SP (EOW) Pallavi Barge, Addl SP (flying squad) Narendra Gaikwad, Dy SP Vilas Bhosale, PI Yashwant Nikam, head constables Krishnakant Desai and Dattatraya Bhapkar.
The cases
Galaxy Group of companies had five companies registered with Kanpur Registrar Of Companies (ROC) office. The company was operating in India through its 102 branches. In 1999, the company lured its investors by promising them to invest in high return schemes and misappropriated the collected money which was Rs 7.08 crore. All the directors absconded after closing their business within few months. In Maharashtra, offences were registered against the said company in Wardha, Nagpur, Yawatmal, Akola, Washim, Bhandara, Amravati, Chandrapur, Beed, Latur, Thane, Kolhapur and Ratnagiri districts.
The investigation revealed that all five companies were not registered with RBI as Non-Banking Financial Companies (NBFCs) and were not authorised to collect deposits from investors. Properties worth Rs 4.86 crores, were seized during the investigation.
