Mumbai: Maharashtra Minister of State for Home (Urban) Yogesh Kadam once again reviewed the progress of the refund process for investors affected by the Pancard Club Ltd. fraud case. Earlier, on June 11, 2025, he had conducted a similar review meeting.
Focus on Attached Properties
The meeting, held at Mantralaya under his chairmanship, was convened in connection with the alleged ₹7,000 crore fraud committed by Pancard Club Ltd. under the provisions of the Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act, 1999.
During the discussions, Minister Kadam directed the concerned agencies to ensure that no illegal transactions take place with the attached properties until the court delivers its verdict.
Separate Meeting with District Collectors
He also instructed authorities to compile detailed information on the properties that have already been attached and those that remain pending. Further, he announced that a separate meeting of district collectors would soon be held to expedite pending actions under the competent authority.
Commitment to Timely Repayment
The money invested by the affected depositors of Pancard Club Ltd. must be returned to them at the earliest. All concerned agencies should coordinate and complete the legal procedures swiftly to ensure timely repayment,” Minister Kadam emphasized.
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Senior Officials and Stakeholders Present
meeting was attended by Principal Secretary (Home) Anup Kumar Singh, Inspector General of Police Manoj Kumar Sharma, Superintendent of Police Deepak Deoraj, Deputy Secretary Yamuna Jadhav, senior officials from SEBI, investigating officers, competent authorities, and representatives of the investors.
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