CHENNAI: The Tamil Nadu registration department has started a probe into allegations about officials registering 237 sale deeds pertaining to 5,300 acres of land in violation of an order issued by a Supreme Court-appointed panel that had barred registration of these assets.
The Justice (retd) RM Lodha Committee has been asked by the Supreme Court to liquidate lands bought in relation to Pearl Agrotech Corporation Limited (PACL) chit fund scam and pay the money generated through to it to 5.6 crore investors from whom the company is alleged to have collected more than Rs 60,000 crore through illegal collective investment scheme (CIS) over 18 years.
According to the letter sent by nodal officer-cum-secretary of the Lodha Committee, a total of 8,198 such property documents fall within the jurisdiction of Tamil Nadu. A top registration department official on Friday vowed to recover thousands of acres in Tamil Nadu that were illegally registered between 2016 and 2022.
Dismissing allegations about failure on the part of the registration department to recover the land, the official said, "We have initiated action against 16 to 17 people. The Directorate of Vigilance and Anti-Corruption has also launched an investigation. All lands belonging to PACL that were registered fraudulently will be recovered."
Jayaram Venkatesan, convenor of Arappor Iyakkam, who collected details about the scam through the Right to Information Act, said the registration was done with the connivance of top officials of the registration department and other officials.
The fraudulent registrations were carried out in Theni, Tenkasi, Tiruchy, Madurai, Virudhunagar, Sivaganga, Thoothukudi and Tirunelveli. In February 2, 2016, the Supreme Court directed SEBI to constitute a committee under Justice RM Lodha, former Chief Justice of India, for disposing of lands purchased by PACL so that the sale proceeds can be paid to the duped investors.
According to the letter, accessed by TNIE, steps should be taken by the State registration department to bar registration, mutation, sale, etc., of the properties where PACL or its group or associate companies have rights or interest. Only the Lodha Committee is authorised to sell the properties of PACL.
Jayaram alleged that KV Srinivasan, Addl IG of Registration Department, and his associates and subordinates across the State were involved in the crime, and sought registration of FIR and a thorough investigation into the complaint.
Denying the allegations Srinivasan said, "A vigilance inquiry is on. I retire next month. That is why they are raising these allegations."