Bengaluru: The State Government has said that it will confiscate properties of finance companies which cheat investors on the promise of high returns.
Addressing a press meet here yesterday, Law and Parliamentary Affairs Minister T.B. Jayachandra said that many companies such as Maithri Plantation Horticulture (P) Ltd., Agri Gold, Green Buds etc., had cheated investors to the tune of crores of rupees, all collecting money from gullible people, especially from rural areas and middle class families in urban areas. These companies are found to have purchased properties in neighbouring States and duped the people of Karnataka. The State Government has asked the Chief Secretary to confiscate the properties of finance companies and Institutions which have cheated the investors of the State, he said and added that the CID has identified such finance companies that operated in the State.
