Aurangabad bench of Bombay HC
Chhatrapati Sambhajinagar: Aurangabad bench of Bombay high court has issued notices to Centre, state govt and other authorities on a petition seeking effective implementation of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, and the establishment of designated courts to expedite recovery of investors’ money in the alleged Rs 3,500-crore Dnyanradha multi-state co-operative credit society scam. A division bench of Justices N B Suryawanshi and Abasaheb D Shinde on Oct 26 issued the notices while hearing a writ petition filed by Rahul Subhashrao Sontakke and 138 other depositors. The matter has been posted for further hearing on Nov 26.
Counsels for Centre, state govt and other respondents accepted the notices. Seeking urgent intervention, the petitioners have urged state govt to appoint competent authorities in affected districts, including Beed, Parbhani, Jalna and Chhatrapati Sambhajinagar, to begin the process of tracing and attaching assets linked to the alleged fraud. They have also sought the establishment of designated courts under the BUDS Act, in consultation with the Chief Justice of Bombay high court, with judicial officers of the rank of district and sessions judge heading the courts and adequate staff provided to ensure speedy adjudication.