Pune: The District Court has remanded Vaishali Motewar, wife of Samruddha Jeevan Foods CMD Mahesh Motewar in police custody with CID till July 9.
Vaishali is the director of 12 companies of the Samruddh Jeevan Group. As per the CID probe, the accused have duped people to the tune of Rs 3,650 crore in eight states.
CID SP (EOW) Jyoti Kshirsagar produced Vaishali before the court in Shivajinagar on Sunday afternoon. She was arrested from Nigdi on Saturday evening.
According to CID, the company had been collecting money from small investors, most of whom were from rural and semi-urban areas, with promises of huge returns on investment in cattle and goat farms. However, they used the money for buying properties for themselves instead of investing in livestock.
Vaishali has been the director in the company since 2009 and in 2013 she became the second largest shareholder in the company with 17.89 per cent shares.
Even after the arrest of Mahesh Motewar and his other wife Leena Mahesh Motewar, Vaishali had been on the run and trying to dispose of the properties. The notice was published in a Marathi newspaper on April 8, 2016, to dispose of the properties, the CID officials informed the court.
“After the Securities and Exchange Board of India (SEBI) put a ban on sale of properties of Samruddh Jeevan Foods India Limited, this company was merged with Samruddh Jeevan Multi-State Multi-Purpose Co-operative Society in 2013 through a Memorandum of Understanding (MOU) which was signed by Vaishali on behalf of Samruddh Jeevan Foods India Limited, the remand report states.
As per information from the Income Tax Department, Vaishali was paid Rs 1.1 crore as salary by the company. She was paid Rs 17.88 crore extra. She owns 27 properties across India. As per our investigation, she has given power of attorney to her son Abhishek Mahesh Motewar to dispose of the properties. There are 26 cases against Vaishali in eight states,” the remand report further states.
Based on a complaint from Sunita Chandrakant Dhanwe of Kahirewadi, Ganeshkhind Road, an FIR was registered at the Chatuhshrungi police station on November 20, 2014, for cheating, criminal conspiracy, criminal breach of trust under the Indian Penal Code (IPC) and sections 3, 4 of Maharashtra Protection of Interest of Depositors (MPID) Act.
The three accused Mahesh Motewar, Leena Mahesh Motewar and Rajendra Pandurang Bhandare were arrested in 2016, and they are currently lodged in different jails. Mahesh is lodged in a jail in Odisha.