Nilgiri Infracity Fraud: Varanasi Police Initiate Confiscation Of Company Assets

| Updated: 09 May, 2022 12:27 am IST
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VARANASI: Police have begun the procedures to confiscate assets worth Rs 13.5 crores of Nilgiri Infracity’s Managing Director Vikash Singh, his wife Ritu Singh, and their partner Pradeep Yadav.

A total of Rs 4 crores worth of properties and valuables were identified for confiscation from Vikash Singh. It included two Jaguar cars which are estimated to be Rs 85 lakhs in total, a Maruti Suzuki Vitara Breeza car worth Rs 6 lakhs, and two parcels of land worth Rs 2 crores and 43 lakhs along with a building worth Rs 56 lakhs, the police said.

A land parcel worth Rs 92 lakhs in the name of his wife Ritu Singh will also be confiscated.

Pradeep Yadav’s land parcels, spread over 16 locations, worth Rs 8 crore 68 lakhs will also be confiscated, as per police officials.

The Varanasi Police said that action was being taken under Section 14 (1) of the UP Gangsters and Anti-Social Activities (Prevention) Act. A copy of the confiscation order had been sent to the district magistrates of Chandauli and Varanasi, the police added.

Police got into action after cases were registered following several people filing complaints alleging that Nilgiri Infracity’s directors had committed a large-scale fraud. The victims alleged that the company claimed to give plots in Varanasi and Chandauli at a lower price than the market rate. In addition, it used to make people invest in gold by promising them good returns.

A number of people from Bihar, Jharkhand, Gujarat, Madhya Pradesh, and Uttar Pradesh had invested crores of rupees in the company.

Vikas Singh, his wife Ritu Singh and Pradeep Yadav have been lodged in Chowkaghat district jail since August 31, 2021, for cheating investors of crores of rupees by giving many offers.

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