Uttarakhand: ADG V Murugeshan reviews police action taken in seven cases against directors of LUCC

Dehradun (Uttarakhand) [India], March 27 (ANI): Additional Director General of Police (ADG)Crime and Law and Order, Uttarakhand, V. Murugeshan, along with all the district in-charges and regional Inspector Generals of Police on Wednesday reviewed the police action taken in a total of seven cases registered against the directors of Loni Urban Multi-State Credit & Thrift Co-operative Society (LUCC) in the state through video conferencing, as per a release.
During the review, instructions were given to expedite the investigation, take strict legal action against the accused and immediately register cases on the complaint applications of the victims.
The ADG also directed that keeping in mind the possibility of the chief operators of about 35 branches in the state, Sameer Agarwal (resident of Mumbai), Pankaj Agarwal (resident of Madhya Pradesh), and Shabab Hussain (resident of Uttar Pradesh) etc. fleeing abroad, Look Out Circular (LOC) / Red Corner Notice (RCN) should be issued and Interpol's help should be taken for legal action at the international level.
Also, the accused who are lodged in various jails of Uttar Pradesh should be brought on warrant B and taken in police custody remand as per rules and the property of the investors should be recovered and the property acquired by them illegally should be confiscated.
Instructions were also given to send a detailed report of the registered cases to the local offices of the Enforcement Directorate (ED) and the Income Tax Department of the Government of India.
The ADG also said that action should be taken to freeze the bank accounts of the accused on the basis of the money trail. During the investigation, records should be obtained from the Registrar of Companies (ROC) and on the basis of evidence, cases should also be registered under Uttarakhand Protection of Interests of Depositors (in Financial Establishments) Act, 2005 (UPID Act) or Banning of Unregulated Deposit Schemes Act, 2019 (BUDS Act), so that correspondence can be made with the competent authority to return the money of investors and victims. (ANI)