Almost a decade after having lost funds to the alleged ponzi scheme launched by Aryarup Tourism and Club Resorts Pvt Ltd, a court has ordered to return at least 43% of their claims to 5354 victims from the amount so far recovered by the investigating agency.
Funds Ready for Distribution
The special MPID court has permitted the competent authority to distribute the funds to the tune of Rs45.47 crore amongst the investors as soon as possible and submit the compliance report in the court.
Recovered Amount Details
The order comes after the competent authority approached the court claiming that as of June 2025, an amount of Rs46.57 crore has been deposited in its bank account.
Thereafter, the Enforcement Directorate (ED) deposited Rs6.39 crore, and by the end of August, a total of Rs 53.30 crore had been credited to the account.
The authority claimed that some more investors have come forward claiming to have been cheated by the accused. In such circumstances, the authorities claimed that the amount deposited by the ED can be kept in reserve. Further it said, 2% of the amount which would be Rs93.15 lakh is required to be kept for expenses and remaining amount of Rs45.64 crore is available at this stage for distribution amongst the victims.
Proportionate Distribution for Investors
The court noted that as per prosecution, in total 5354 people had invested their funds to the tune of Rs105.76 crore. With this the court noted that considering the proportionate distribution, it is necessary to distribute 43% of the amount which would be Rs.45.47 crores and every victim will get 43% of his investment.
All the parties gave no objection for such distribution. Hence the court allowed the plea of the Competent Authority to distribute the funds amongst the victims.
