“Mahesh Motewar’s cup of sins is full”

Bharatkumar Raut tenders resignation; Kumar Ketkar may land in prison

English Version

The days of Mahesh Motewar, who has alleged defrauded lakhs of investors for an amount of over Rs 1700 crore are numbered and there are signs that he would be arrested soon. Consequently a series of resignations are being tendered in “Mee Marathi”.

“Mee Marathi” CEO Supriya Kanse and former Shiv Sena MP Bharatkumar Raut have already resigned from the directorship of the company. But another director Kumar Ketkar is still continuing in his post and has been doing liaison work for Motewar. If Motewar is booked under the stringent  Maharashtra Protection of Depositors’ Act (MPDA), even Ketkar would be required to serve a prison term with hard labour.

“Samruddh Jeevan” a company controlling “Mee Marathi” and “Live India” TV channels has been in talks for various reasons for the last few days. Now after SEBI’s action, the reality has come to the fore. We have already published stories about how the owner of “Samruddh Jeevan” made his sweetheart, Supriya Kanse, a CEO of “Mee Marathi”, bypassing all rules. The dispute over property has began in the group. Motewar who deserted his real wife for his sweetheart is now entangled in legal complexities. This story is more colourful than the Indrani Mukherjea case.

How Kumar Ketkar and Bharatkumar Raut are working in an institute run by a swindler, who has swindled thousands of investors for crores of rupees, is a big puzzle. Nikhil Wagle has already left earlier. Bharatkumar Raut, put in his papers on Thursday. Though late, both have rectified their “mistake”. But Kumar Ketkar, who preaches morality to the world, is still stuck with Motewar’s company. How one can tolerate “Nobility” of a double-standard man Ketkar ? This leads to only one conclusion...now no one is bothered about Ketkar or he wants to retain an office of profit in his old age.  Ketkar does not seem to be interested in adhering to morality.  

   

“I am interested in social work. I am always busy. I am not interested in any controversy. As such I have resigned from the post of  “Director and “Media adviser” of “Mee Marathi”- Bharatkumar Raut.

“SEBI usually does not accept a complaint. When common men approach police, they are directed to SEBI. But SEBI does not register small frauds. SEBI inquires only if the fraud is worth over Rs 100 crore. The inquiry of any matter, takes 12 to 13 years. In the intervening period,these fraudsters siphon off money and send it abroad. They open new companies. The poor people do not give cheques. They shell out Rs 1000 to Rs 2000.  Now a warrant has been issued against Mahesh Motewar by authorities in Madhya Pradesh. An award of Rs 2000 has also been announced for information about Motewar. Yet such fraudsters get passport. They roam abroad. They have become thick-skinned. In this case, the SEBI has granted six monthly extensions twice.
- Naresh Jain, Economist 

“The press freedom begins with once’s own newspaper. Some of the thick-skinned editors do not bother even to know how the owner earns money. When trapped in legalities, they desert their owners and run away. This has been proved by Bharatkumar Raut’s resignation once again. Those owners who earn money by illegitimate means, throw a gauntlet of shielding their black deeds before senior editors. If they fail to prove and protect their owners, they are thrown out of job. This attitude is seen in the way management shown a door to Bharatkumar Raut. It is known fact that Motewar asked him to resign.”- Ketan Tirodkar, Senior RTI activist      

“Mahesh Motwar defrauded investors and amassed black money. He transferred money to those companies on which SEBI or other departments had imposed curbs. He collected money from farmers in the name of sheeps and goats. He has diverted this money to his seven star hotels, malls, aeroplanes  and Hindi and Marathi TV channels. SEBI in its report has clearly concluded that he has cheated poor people and investors.”

- Kirit Somaiya, BJP MP

“There is a correlation between the action taken by the Pune Police against the “Samruddh Jeevan” company and the resignations by staff  of “Mee Marathi”. Supriya Kanse was appointed as a CEO of “Mee Marathi” by Motewar. Besides, this post was specially created using funds of “Samruddh Jeevan” for “Mee Marathi”. As such it is clear that after “Samruddh Jeevan” becomes insolvent, the inquiry will be held into the irregularities in “Me Marathi” and  the responsibility of submitting relevant papers would fall on the controlling the company. Whenever a company becomes defunct due to embezzlement of funds and irregularities, all the directors of the company are required to answer to Central Bureau of Investigation(CBI) and Enforcement Directorate(ED) whether legal formalities were completed or not. There has been past experience that if there are irregularities in documents or if the documents are misplaced, those controlling the affairs run away installing a dummy person at the helm. A series of resignations in “Mee Marathi” is the repetition of history.”...- Sanjiv Punalekar, Secretary, ‘Hindu Vidhidnya Parishad’ (HVP)

“ The big editors collude with the system and protect each others financial interest. In such situation the common men bear the brunt of financial loss. I describe these bigwigs as “Coalition of Connected People”. Such coalitions are extremely dangerous to democracy and to the people oriented transparent administration. As such all these so called bigwigs should be exposed and a stringent action is taken against them. Such corrupt and unholy financial nexus, give birth to yellow journalism and corrodes the fourth pillar of the democracy. This is extremely dangerous for any democracy.”
- Rajan Raje, 

President, Dharmrajya Paksh

BJP MP Kirit Somaiya alleged that former Union Minister and NCP President Sharad Pawar and former Maharashtra Deputy Chief Minister Ajit Pawar have been shielding “Samruddh Jeevan” company, responsible for the alleged misuse of investors’ money. This company carried out the transactions worth nearly Rs 463 crore and defrauded the lakhs of investors despite curbs imposed by SEBI, he said adding that Motewar has lost the entire money and as such he should be arrested at once.

The “Samruddh Jeevan Multi Co-op Society, used over Rs 426 crore collected through chit fund, for investing in the malls, TV channel and other business, despite SEBI’s restrictions. Now the chances of investors receiving money back is remote, Somaiya alleged. He quoted a report of the state cooperative ministry for 2015 in support of his claim.

“The matter would not have gone to this extent, if the former Congress-NCP Government was to take action in time”, Somaiya said demanding that criminal proceedings be launched against Mahesh Motewar and bank accounts of the directors of “Samruddh Jeevan” and its sister concerns be sealed. Somaiya also called on Union Agriculture Minister Radha Mohan Singh and Union Minister of State for Information and Broadcasting Rajwardhan Rathore and briefed them about this matter. 

“Motewar is publicity crazy. To swindle the hard earned money of poor people is like sucking their  blood. To organise mega blood donation camps is Motwar’s old trick.Besides he has also gained “publicity” through the “managed” awards and honourary degrees. This entire matter has to be investigated” Senior Social Worker Dilip Inakar said.

Who looted investors through chit fund ?

SEBI has banned “Samruddh Jeevan”, “Saiprasad” and  “ Landmark”. Besides, SEBI inquiry is on into the activities of “Hari Om”, “Pearl Agro”, “Twinkle Plants and Projects” and “Om Goenka” and SEBI has directed Maharashtra Government, to take action against these firms after preliminary inquiry.

An offence was registered against “KBC” when it came to the fore that this chit fund company had defrauded several investors from Maharashtra. A needle of suspicion is also been moving around other companies.. “Garware Club House”, “Cytrus Hotels”, “ Orange Holidays, “Enmart Retails”,”Gurupasad”,” Virgin Gold International” and “Mire Realtors”.

In Maharashtra nearly 162 chit fund companies have defrauded public for over Rs.40,000

crore. As such the state government should take action against these companies, Somaiya has urged Chief Minister Devendra Fadnavis. He has also presented the  list of 162 fraudulent companies to the CM. The list includes: “Enmart”, “KBC”, “Samruddh Jeevan”, “Orange Holidays”,  “Saiprasad”, “Garware”, “Shri Surya”, “Pearls”, “Hari Om’ and “Twinkle”. When contacted for comments, these companies didn’t respond.

Motewar collected over Rs 1700 crore money from the road side vegetable vendors, autorickshawmen and other working class and invested in his own companies. This is pure cheating. Mahesh Motewar and Kumar Ketkar could not be reached despite repeated attempts.

- Unmesh Gujarathi