Nirmal Krishna deposit fraud: Home department directs Kinfra to return land to woman entrepreneur
Until a few years ago, Umesh was operating Pooja Garments on the land at Kinfra Park, but the accused K Nirmalan evicted her using fraudulent methods. He then took over the land and the 54,000 sq ft building at the park by flouting all norms. The accused then reportedly paid Rs 89 lakh as a lease premium for the land to Kinfra. The land and factory are currently owned by one Sreejith, a close aide of Nirmalan and an accused in the deposit fraud.
The order issued by the home department also directs Kinfra to remit the lease premium of Rs 89 lakh to Banning of Unregulated Deposit Schemes (Buds) Act, Authority, which initiated recovery proceedings against the accused.
The fraud came to light when the authority legally attached the land and factory owned by the accused in the Nirmal Krishna fraud, as the woman submitted proof of ownership of land and factory. As per the Buds Act, the authority has no power to attach a third-party property.
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Buds Authority later revoked the attachments, directing Kinfra to pay the lease premium paid by the accused to reimburse the depositors who lost money in the deposit fraud.
"Kinfra leased out the land to Nirmalan when it was already owned by me. Kinfra could not produce the pact when it was sought through an RTI query. Now I am happy that the department directed Kinfra to give my land back," said Umesh.
She may need to pay some premium amount to enter into a new pact with Kinfra, it was learned.
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