Action on real estate company, property will be auctioned soon

Durg. In connection with the proceedings of attachment of property against Yash Dream Real Estate Company since the year 2016, the final order of attachment has been issued on the pending case. Under the Protection of Interests of Investors Act 2005, the interim attachment order to attach the properties of Yash Dream Real Estate Company and its operators due to non-refund of their money after depositing money from the investors, has been set aside by the Special Court, Durg as excessive. final) has been confirmed. Tehsildar Durga, Bhilai-3 and Patan have been appointed as authorized officers to sell the property attached by Collector Durg Pushpendra Kumar Meena and to complete the process of refunding the amount to the investors as per the rules.

In this regard, a notice of 15 days has been issued by the Tehsildars concerned. In case the directors of the company do not submit any objection/adjournment order, the date of auction of the property held in the name of the company will be fixed after 15 days.

It may be noted that from the year 2016 till date, a total of 10141 investors have applied for refund of approximately Rs 47,84,79,068 (Rs 47,84,79,068 only). Action is being taken to auction about 50 acres of land located in Tehsil Durg Millai-3 and Patan in the name of the company for the refund of the amount of the investors. About 2 acres of land located in district Balod has been directed to the District Collector Balod for auction. In case there is no judicial obstruction in the auction proceedings, the process of refunding the amount to the investors will be completed within the next 01 to 02 months.