Clearing the decks for the prosecution of the accused in the multi-crore emu contract farming scandal,the Erode Economic Offences Wing police (EOW) have filed the charge-sheet against Susi Emu Farms Pvt Ltd, a company which had allegedly pioneered the scam.
Susi Emu Farms, the largest player in the unregulated emu contract farming market, has been accused of collecting around Rs 231 crore from gullible investors.
However, the chargesheet puts the total amount swindled at Rs 14 crore as only 520 depositors have submitted evidence of having invested in the firm.
Informed sources said the chargesheet was submitted before the Tamil Nadu Protection of Interests of Depositors (TNPID) Special Court at Coimbatore on Friday last. Once the special judge accepts the chargesheet, it would pave way for the prosecution of the accused.
The Erode police had registered a case against Guru, the promoter of Susi Emu Farms and some of his employees, after depositors picketed the firm’s office in Perundurai on August 7 alleging a fraud.
The depositors alleged that the company had defaulted in paying monthly incentives to them.
The company had promised them that for every Rs 1.5 lakh deposited, customers would be given a monthly incentive of Rs 6,000 under the ‘ordinary scheme’ and Rs 7,000 under the ‘VIP scheme’.
Following this, the EOW police had first arrested the firm’s manager Kadirvel and subsequently taken Guru into custody from a hideout in Hogenekkal in Dharmapuri district on September 7.
Four directors of the company had surrendered at the TNPID Court. In all, eight of the firm’s directors are in jail. So far over 3000 depositors have lodged complaints against the firm.
EOW Deputy Superintendent of Police T Jagannathan has filed the chargesheet.
It is likely that supplementary chargesheets could be filed against the firm based on fresh complaints.
Police have traced assets worth Rs 7.5 crore in the name of Susi Emu Firms, its promoter Guru, his wife Suseela and employee Amudhan in over 30 places across the State.