AMN /
CBI today raided 58 offices of controversial multi-crore collective investment scheme company, Samruddha Jeevan which is headquartered in Shivajinagar Pune. Raids were conducted simultaneously on offices of this company in Maharashtra and Odisha. 40 offices raided in Maharashtra are from Pune, Aurangabad,Solapur and Nashik CBI sources said. Majority of them are situated in Pune.
Sources said that important documents are ceased during these raids. Head of this Smruddha Jeevan Group Mahesh Motewar was detained from Pune yesterday morning by the Osmanabad police and later arrested in the evening. He was produced in court at Usmanabad today and sent to Police custody in connection with a case of cheating registered in 2012, in which he was already declared an absconder about a week ago.
The name of the company had hit the headlines in 2013, after the Securities and Exchange Board of India had barred the directors of the company, from raising money from its investors. The company had been collecting money from small investors, majority of whom are from rural and semi-urban areas, with promises of huge returns from cattle and goat farms. SEBI board had found that besides facing several allegations of illegal practices, the company was running the scheme without a proper approval which was mandatory.
Last month, an offence was registered against its four directors, including Motewar, at the Deccan police station in Pune but Motewar obtained an anticipatory bail in connection with this case. The case in which he was arrested on Monday, was registered at Murum police station in Osmanabad district.