‘Sunpariwar’ assets disposal, disbursement panel hold meet

Hyderabad: The ‘Sunpariwar’ assets disposal and disbursement committee meeting was held at the Cyberabad Police Commissionerate on Friday. The committee discussed various issues related to auction of movable and immovable properties, modalities and procedures to be followed and also the identifying and enlisting of deserving depositors. It also discussed a transparent system to be adopted […]

Hyderabad: The ‘Sunpariwar’ assets disposal and disbursement committee meeting was held at the Cyberabad Police Commissionerate on Friday.

The committee discussed various issues related to auction of movable and immovable properties, modalities and procedures to be followed and also the identifying and enlisting of deserving depositors. It also discussed a transparent system to be adopted to conduct public auction and distribute the amount to depositors in proportion to their investments, and fixed timelines for each task.

The members of the committee have decided to meet on a weekly basis, and as per directions of Cyberabad Police Commissioner Stephen Raveendra, to submit periodical progress reports to the court as well.

Earlier, a local court in LB Nagar had issued orders directing the Cyberabad Police Commissioner to constitute a committee comprising representatives from the Revenue, Judiciary, Regional Transport Authority and Registration Department to conduct auction of seized properties of the suspect M Ravinder and others and to disburse auction proceeds to depositors of the Sunpariwar Group of Companies within four months.

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