State govt will return the money to investors obtained by the auction of Yash Dream’s properties

Raipur: Chhattisgarh’s law enforcement agency has cracked down on various chit fund company cases, and restitution to affected investors is in full swing. The state government is poised to refund a substantial sum of Rs 42.77 crore resulting from the auction of properties belonging to Yash Dream Real Estate, a chit fund firm. This move is part of the ongoing effort to return money to investors collected by the chit fund companies. Chhattisgarh government has successfully reimbursed Rs 33.97 crore to victims of fraudulent chit fund schemes across the state. Chief minister Bhupesh Baghel has issued strict directives to the Durg District Administration to expedite the refund process for Yash Dream Company’s investors, in compliance with established regulations.

Chhattisgarh Government, led by chief minister Bhupesh Baghel, has committed to delivering justice to investors entangled in chit fund schemes. In a comprehensive effort, the Chhattisgarh government has imposed a ban on chit fund companies within the state. This initiative was accompanied by the registration of 462 cases against 208 chit fund firms, leading to the arrest of 700 directors and officers involved. In such 99 instances across the state, courts have sanctioned the attachment and auction of chit fund companies’ properties, valued at Rs 141.51 crore. The district administrations have carried out action on Rs 55 crore of property so far. The Durg administration has auctioned the property worth Rs. 97.77 crore, including Rs 42.77 crore obtained from the auction of Yash Dream Real Estate Company’s properties scattered throughout Durg district. Presently, proceedings are underway for the auction of properties from chit fund companies amounting to approximately Rs 68 crore.