Fadnavis assures Pancard Clubs Ltd investors of refund

Mumbai: Chief minister Devendra Fadnavis gave an assurance in the state Legislative Council that the money of the Pancard Clubs Ltd investors would be refunded.

He said that those found guilty in the entire affair would be arrested and subjected to strict punitive action.

The CM was replying to a calling attention motion raised in the Council by Satej Patil regarding the investors whose money was blocked in Pancard Clubs Ltd.

The chief minister in his reply said that the Pancard Clubs Ltd had deceived investors. He assured that the investors would be refunded by selling the property of the company. “Offences have been registered against the persons who cheated the investors. One of the accused is dead. But the others will be arrested. The government will take strict action in the matter and no one who has breached the investors’ trust will be spared,” said Mr Fadnavis.

 Former Cabinet minister of rural development Jayant Patil, too, participated in the discussion on this issue in the House.