Self-styled godman Asaram Bapu is in fresh trouble with the Serious Fraud Investigation Office (SFIO) seeking his prosecution in a Rs 700-crore land grab case in Madhya Pradesh. The case pertains to 200 acres of land in Ratlam. The SFIO wants to prosecute Asaram and his son under the Indian Penal Code and Companies Act 1956, and has recommended to the Ministry of Corporate Affairs in this regard.
The land in MP belongs to Jayant Vitamins Ltd and was allegedly grabbed in 2000 and is being used since then. It is a public limited company which was delisted from the BSE for defaulting on the listing fees. The company was a major player in glucose and vitamin supply to other pharma companies.
Interestingly, though the co did not complain about the matter, a company shareholder had approached the Ministry with the complaint of mismanagement, following which it transferred the complaint to SFIO. After investigations for over two years, the SFIO has sent its recommendations to the Ministry.