Shocked to know that a DSP had filed a chargesheet against Madurai-based real estate firm Disc Assets Lead India for having reportedly defaulted ₹5.29 crore though actually the amount involved was ₹1,137 crore due to 10.4 lakh depositors, the Madras High Court has directed the ADGP (Economic Offences Wing) to monitor the probe.
A Bench of Justices M. Sathyanarayanan and N. Seshasayee issued the direction after taking note that the DSP had obtained permission from the trial court concerned for further investigation of the case after a committee of court-appointed administrators, led by former Chief Justice of Jammu and Kashmir High Court N. Paul Vasanthakumar, feared that the investigation had not been done in the proper perspective.
The committee complained to the Division Bench that there was every possibility of the accused compounding the offence without repaying the money to all 10.4 lakh depositors due to faulty chargesheet. filed by the DSP. However, the judges said, there was no possibility of the offences getting compounded now since the trial court had granted permission for further investigation in the case.
Nevertheless, pointing out that the figure mentioned by the DSP in his preliminary chargesheet might not reflect the correct amount of money that had been defaulted, the judges directed the ADGP to monitor further probe and file a status report before the court on Thursday.
