Crl.O.P.(MD).No.15498 of 2024 etc.

, (batch cases)

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT

DATED : 29.04.2025

CORAM :

THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY

Crl.O.P.(MD).Nos.15498, 13901, 18736, 22427, 22440 & 22553 of 2024; 5345,

5346, 256, 69, 104, 229, 318, 1321, 1348, 5051, 5103, 5274, 5279, 5280, 5286,
5303 & 5305 of 2025
and Crl.M.P.(MD).Nos.14364 & 10915 of 2024; 752, 5529, 5695, 5693, 2238,
2853, 2854, 2855, 2856, 2857, 2858, 2860, 2861, 2862, 2863 & 4050 of 2025

In Crl.O.P.(MD).No.15498 of 2024:-

D.Jainkumar .. Petitioner

Versus
1. The Inspector of Police,
EOW-II, Madurai,
(Crime No.3 of 2023).

2. Charles
3. Ilayaraja
4. Muthukumar
5. Kumar
6. E.Veerasamy
7. N.Ganesan
8. N.Shahul Hameed
9. N.Seenivasan
10. K.Sornalakshmi
11. A.Rathinam .. Respondents

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

In Crl.O.P.(MD).No.5345 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. Sneha
2. Chitra

3. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5346 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. Chellammal

2. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.256 of 2025:-

J.Ravi .. Petitioner

Versus
1. Ramesh Rajan

2. State represented by the

The Inspector of Police,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

Economic Offences Wing-II,

Madurai.
(Crime No.03 of 2023) .. Respondents

In Crl.O.P.(MD).No.69 of 2025:-

1. Mohan
2. Selvaramalingam
3. Johnson
4. Gokula Krishnan
5. Gunasekaran .. Petitioners

Versus
1. State through
The Inspector of Police,
EOW-II,
Madurai.
(Crime No.03/2023)

2. S.Balasubramanian .. Respondents

In Crl.O.P.(MD).No.104 of 2025:-

S.Kaliyappan .. Petitioner

Versus
1. Veerasakthi

2. State represented by the

The Inspector of Police,
Economic Offences Wing-II,
Madurai.
(Crime No.03 of 2023) .. Respondents

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

In Crl.O.P.(MD).No.229 of 2025:-

1. S.Thangamani
2. P.Malathi
3. V.James
4. A.Rajasekar
5. M.Balakrishnan
6. P.Suresh
7. Kumarasamy
8. I.Jawahardurai
9. P.Rajesh
10. K.S.Jothi Ganesh
11. A.Durai
12. A.Udayapriya
13. T.Tharani .. Petitioners

Versus
1. Singaravelan

2. State through the Inspector of Police,

EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.318 of 2025:-

M.Balakrishnan .. Petitioner

Versus
1. Balasubramanian

2. State represented by the

Inspector of Police,
Economic Offences Wing-II,
Madurai.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

(Crime No.03 of 2023) .. Respondents

In Crl.O.P.(MD).No.1321 of 2025:-

R.Ramachandran .. Petitioner

Versus
1. Sivaraman

2. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.03 of 2023) .. Respondents

In Crl.O.P.(MD).No.1348 of 2025:-

R.Ramachandran .. Petitioner

Versus
1. Sasikumar

2. State through the Inspector of Police,

EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5051 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. N.Saravanakumar
2. K.Muthuramalingam
3. A.Barathan
4. Saravana Gughan

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

5. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5103 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. Kaleeswari
2. Praveen
3. Deepa
4. Selvaraj

5. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5274 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. R.Babu
2. B.Dhanush

3. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

In Crl.O.P.(MD).No.5279 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. Pitchumani
2. Yogaraja

3. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5280 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. M.Kaleeswaran
2. S.Nagoor Kani
3. M.Muniraj
4. A.Kannan

5. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5286 of 2025:-

M.Arockiyasamy .. Petitioner

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

Versus
1. Ramesh
2. S.Manivannan

3. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5303 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. D.Kumar
2. K.Ajieve Kumar
3. P.Anbumani

4. State of Tamil Nadu through the

Inspector of Police,
EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.5305 of 2025:-

M.Arockiyasamy .. Petitioner

Versus
1. Senthilkumar
2. Balajirajan
3. Balamurugan

4. State of Tamil Nadu through the

Inspector of Police,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.13901 of 2024:-

S.Natarajan .. Petitioner

Versus
1. The Inspector of Police,
EOW-II, Madurai,
(Crime No.3 of 2023).

2. Charles
3. Ilayaraja
4. Muthukumaran
5. Kumar
6. E.Veerasamy
7. N.Ganesan
8. N.Sahul Hameed
9. N.Seenivasan
10. K.Sornalakshmi
11. A.Rathinam

12. The Secretary to Government,

Home Department,
Government of Tamil Nadu,
Fort St. George,
Chennai.

13. The Additional Director General of Police,

Economic Offence Wing,
Chennai. .. Respondents

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

RR-12 and 13 are suo-motu impleaded

as per order of the Court, dated 14.10.2024
in Crl.O.P.(MD).No.13901 of 2024

In Crl.O.P.(MD).No.18736 of 2024:-

N.S.Dhayalan .. Petitioner

Versus
1. State of Tamil Nadu rep through
Inspector of Police,
E.O.W-II,
Madurai.
(Crime No.3 of 2023)

2. Sasikumar .. Respondents

In Crl.O.P.(MD).No.22427 of 2024:-

1. M.Madhavan
2. K.Lalitha
3. G.Balasubramanian
4. S.Subbaiaya
5. V.Sankaranarayanan
6. G.Yogaraj
7. R.Balasubramanian
8. A.Selvamani
9. S.Ravi Balan
10. N.Selvaraj
11. S.Ramarasa
12. Akila
13. S.Balachandar .. Petitioners

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

Versus
1. Charles
2. Ilayaraja

3. State through the Inspector of Police,

EOW-II, Madurai.
(Crime No.3 of 2023) .. Respondents

In Crl.O.P.(MD).No.22440 of 2024:-

1. Theivendran
2. Dhanabalan
3. Ganapathy
4. Ganesan
5. Harikrishnan .. Petitioners

Versus
1. State through
The Inspector of Police,
EOW-II,
Madurai.
(Crime No.03/2023)

2. Veerasakthi .. Respondents

In Crl.O.P.(MD).No.22553 of 2024:-

1. Ganesan
2. Mayakannan
3. Jeyavelan
4. Chellathurai
5. Chockaraj .. Petitioners

Versus

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

1. State through
The Inspector of Police,
EOW-II,
Madurai.
(Crime No.03/2023)

2. Simon Raja
3. Kapil .. Respondents

For Petitioner : Mr.M.Purushothaman,

(in all cases) Senior Counsel for Mr.M.Kannan

For Respondents : Mr.S.Vinoth Kumar,

Government Advocate (Crl. Side)

: Mrs.M.Sheela,
Special Public Prosecutor
(Income Tax),
for the fourth respondent
in Crl.O.P.(MD).No.15498 of 2025

: Mr.N.Ramesh,
Special Public Prosecutor,
for Directorate and Enforcement
Department

: Mr.B.Kumar, Senior Counsel,

Mr.Yogesh Kanna,
Mr.Airam Selvakumar
Mr.Prabhu Ramasubramanian
Mr.Ramachandran,
for Company/Director of Company

: Mrs.A.Rajini, for M/s.Neo Max

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

Theni district

: Mrs.C.Lavanya,
Sivaganga district,
Karaikudi Sangam

COMMON ORDER

These matters involve requests for cancellation of bail and intervention,

among other issues. Originally, when all these matters were taken up together

on 19.10.2024, an order was issued after considering the previous orders in the

matter. The first step must be identifying the victims and the available resources

to settle claims. It was noted that it is necessary to compile this data, whether

through settlement via compromise or distribution to the victims. Detailed

orders were issued, granting a time-line to the Investigating Officer to collect the

information; a public notice was issued, and within the deadline, complaints

were received, leading to the final data being submitted to this Court. Some

complainants have come forward belatedly, and their names have been ordered

to be included separately at the end of the list. The total claim has been

quantified.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

2. Subsequently, when the matter came up for hearing before the Hon'ble

Mr.Justice N.Anand Venkatesh, he requested the Hon'ble Chief Justice to post

the matters before this Court, as the issue had been considered in detail earlier.

3. Pursuant thereto, these matters were listed on 07.04.2025 and

21.04.2025, etc., during which this Court passed specific orders. Based on the

submissions made regarding potential objections from the Enforcement

Directorate and the Income Tax Departments, the matters were adjourned for the

respective departments to submit their positions in writing. The rationale behind

impleading the said authorities and requesting them to document their positions

was that this Court is adopting a victim-centric approach to expedite relief for

the victims. If the Enforcement Directorate or the Income Tax Department

attach all the properties and make a claim at the last moment, the entire

proposed exercise would become futile.

4. In this view of the matter, when the due time was granted,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

Mrs.M.Sheela, the learned Special Public Prosecutor for the Income Tax

Department, placed on record the department's stand. The following is the stand

taken:

"It is submitted that the Income Tax Department has an

outstanding Tax demand of Rs.49,34,83,376/- that remains
unpaid by M/s Neomax Properties Private Limited (PA:
AAECN5082A) and requests this Hon'ble Court not to release
any excess amount/proceeds that is available after settling the
genuine depositors who have made such deposits lawfully and
the excess amount realized should be made available to the
Income Tax Department."

Thus, it can be seen that the Income Tax Department has adopted a

pragmatic, commendable, and transparent stance, stating that the Court can

resolve the claims of genuine depositors, and any excess amount shall not be

disbursed to the Company or the Directors, as a sum of Rs.49,34,83,376/- is

owed to the department.

5. Additionally, it is stated that details of cash transactions exceeding

Rs.2,00,000/- should also be provided to the Income Tax Department. In this

case, each transaction exceeds Rs.2,00,000/- since the minimum deposit was

said to be Rs.3,00,000/- and it is also stated that all transactions were completed

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

in cash. Therefore, the Investigating Officer shall forward the list of depositors

and the amounts deposited, as compiled, to the Deputy Commissioner of Income

Tax, Central Circle-I, Madurai. A copy thereof shall also be served on

Mrs.M.Sheela, the learned Special Public Prosecutor for the department.

6. As far as the Enforcement Directorate is concerned, on the first

occasion, Mr.N.Ramesh, the learned Special Public Prosecutor for the

Enforcement Directorate, submitted that the Court's query was not explicit in the

order passed initially. The query was clarified in the subsequent order, and an

additional opportunity was granted. Further time was requested; therefore, the

matter was posted for 29.04.2025. On that date, the learned Special Public

Prosecutor also submitted that they could not record their stand since written

instructions must come from the head office in Delhi. Be that as it may, in view

of the impending vacation, since the entire month of May, 2025 would be lost,

this Court heard all the learned Counsels regarding the valuation of the

properties.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

7. The learned Counsel submitted that, apart from valuing the properties,

the amount lying as cash deposits to the tune of Rs.24 Crores can also be

ordered for disbursal. However, any disbursal will be considered only after the

position taken by the Enforcement Directorate. Regarding the valuation of the

properties, no prejudice will be caused to anyone by assessing their value. The

list of properties identified and attached by the competent authority/Government

thus far is annexed as Annexure - I. In addition to the attached properties,

Mr.B.Kumar, learned Senior Counsel for the Company and the Directors, also

provided a list of properties that are not attached but are available for

distribution/sale. This list is annexed as Annexure - II of this order.

8. Therefore, the valuation of all the properties shall be conducted in the

following manner:

(i) It is evident that the properties are spread across ten districts:

Ramanathapuram, Sivagangai, Thoothukudi, Thanjavur, Dindigul, Madurai,

Virudhunagar, Thiruvarur, Tirunelveli, Tenksi and Theni. In all the districts, the

competent authority will serve as the formal head of the Committee. It is

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

impossible for the competent authority to undertake this mammoth exercise

personally. Therefore, for each district, in addition to the competent authority,

there will be three other members in the sub-committee. This will include the

District Registrar of the concerned district and two approved valuers, as detailed

below in the Tabular Column. The valuation will proceed simultaneously for

each of the districts.

S.No. District Sub Committee Depositors'

Representatives
1 Ramanathapuram District Registrar, 1. M.Anbalagan, s/o
Ramanathapuram district. Muniyandi, 3/255,
A.D. Nagar,
Valuer No.1:- Kumbaram,
P.Kumaran, 1/95-1, Ramanathapuram-
Bharathi Nagar West, 623523. Cell:
Collectorate Post, 9944886953.
Ramanthapuram, Tamil
Nadu - 623 503. 2. Amalorpava
Vedaraj, M/56/2025,
Valuer No.2:- s/o. Rajamanickam,
Muthu Babu, 39/5, First D.No.33(1) Near
Floor, Alangachary Road, Angal School, 7th
Ramanathapuram, Tamil cross street, Thondi
Nadu - 623 501. road, Sivagangai-
630561. Mobile No.:
9682157137
2 Sivagangai District Registrar, 1. Mayakannan,
Sivagangai district. M/47/2025, s/o Alagu,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

1/61, Karampettai,
Valuer No.1:- Kumarapatti,
Muthu Ramakrishnan, Sivagangai District.
50/1, Churchmudal Mobile No.:
Veethi, New Town, 7639059173. (Crl.O.P.
T.T.Nagar, Karaikudi, No. 22553/2024)
Sivaganga, Tamil Nadu -
630 001. 2. A.Seenivasan,
M/36/2024, s/o.
Valuer No.2:- Aliyathan, 3/709,
Balasubramanian Matha Kovil street,
Athinarayanan, 49, Kanjirangal,
Murugan Complex, Sivagangai District.
Munieswaran Kovil Mobile No.:
Santhu, Karaikudi, 8124967143.
Sivaganga, Tamil Nadu -
630 001.
3 Thootukudi District Registrar, 1. K.Murugan, 61/23,
Thootukudi district. s/o. Kanthaiya, 6A/1C,
Sundaravelpuram 5th
Valuer No.1:- street, Thoothukudi
Raveendran Velsamy, District-628002. Cell:
22a/1, Teppakulam Street, 9498194690.
Upstairs, Near Subhasree
Kalyana Mahal,
Thoothukkudi, Tamil
Nadu - 628 002.

Valuer No.2:-
Thangasamy Murugesan,
42, North Cotton Road,
Tuticorin, Thoothukkudi,
Tamil Nadu - 628 001.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

4 Thanjavur District Registrar, 1. V.Ajay Viswanath,

Thanjavur district. M/25/2025, s/o.
Viswanath, No. 13/5,
Valuer No.1:- Chinna Kammala
S.Venkadesh, Plot No.56, Theru, Trichy-620008.
F3, Zahira Residency, 3rd Cell: 8080437559.
Street, Cauvery Nagar (Crl.O.P. No.
West, Thanjavur, Tamil 7122/2025)
Nadu - 613 005.
2. V. Vinothkumar,
Valuer No.2:- 48/25, s/o. A. Vijaya
S.Ramesh, 114, Kumar, No.81-A,
Thukkampalaya Street, Sunambukara Street,
Kumbakonam, Thanjavur, Trichy-620008.
Tamil Nadu - 612 001. 9842737262. (Crl.O.P.
No. 7126/2025)
5 Dindigul District Registrar, 1. P.Ramaraj, 41/23,
Dindigul district. s/o Palanisamy,
Bommaya
Valuer No.1:- goundanpatti,
Krishnamoorthy, Plot Ragalapuram,
No.23B, A.R.Nagar, Dindigul - 624304.
Mengles Road, Dindigul, 9751724398,
Tamil Nadu - 624 001. 7976867198.

Valuer No.2:- 2. Nizar Ahamed, s/o

Soundararajan Sellappa Allah Pitchai, 3/43,
Goundar, 30/1, Mill Road, Muslim street, Athur,
Shanmugapuram, Palani, Dindigul District.
Dindigul, Tamil Nadu - Mobile No.:
624 601. 9080881008
6 Madurai District Registrar, 1. T.Suresh,
Madurai district. M/53/2025,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

S/o.Thirumalai, Plot
Valuer No.1:- No.9, Valavanthan
Ravichandran Ramasamy, Street, Ramamoorthy
Flat No.201, Rams Nagar, New Vilangudi,
Apartment, Sathyasai Madurai.
Nagar Main Road, TVS Cell:9788155610.
Nagar, Madurai, Tamil
Nadu - 625 003. 2. V.J.Rajasekaran,
S/o.Jeyaram, 49,
Valuer No.2:- Jawahar 11th street,
Vijayakumar Krishnan, Thirumangalam,
1b, Narayana Bhavanam, Madurai district - 625
Valluvar First Street, 706.
S.S.Colony, Madurai, Cell:9894371829.
Tamil Nadu - 625 010.
7 Virudhunagar District Registrar, 1. S. Gokula Krishnan,
Virudhunagar district. M/49/2024, s/o. Sami
Subbaiah, No.2/236,
Valuer No.1:- Middle Street,
Gulandaivel G, Nadayaneri,
S/o.Gurusamy, 105, Erichanatham,
Chairman Shanmuganadar Virudhunagar-626103.
Road, Sivakasi Post, Cell: 9585044286.
Sivakasi, Tamil Nadu - (Crl.O.P. No.
626 123. 7131/2025)

Valuer No.2:- 2. J.Ramkumar,

Ganesan P, M/33/2025, s/o.
Palaniyappan, 3a, Jeyaprakasam, 3/124,
Kooraipillaiar Kovil Chinnappaveddiptti,
Street, Near Vanigavaiciar Sengundrapuram,
High School, Virudhunagar-626103.
Rajapalayam, Cell: 8220622831.
Virudhunagar, Tamil Nadu (Crl.O.P. No.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

- 626 117. 7121/2025)

8 Thiruvarur District Registrar, 1. M.Raja, s/o
Thiruvarur district. L.Manickam, No. 66,
Periyasamy Nagar
Valuer No.1:- extension,
Selvakumar P, 29 D M Gandhinagar-Post,
Court Street, Vadakuthu arch Gate,
Thiruthuraipoondi Post, Neyveli, Cuddalore
Thiruthuraipoondi Taluk, Dist.-607308
Thiruvarur, Tamil Nadu -
614 713.

Valuer No.2:-
Balamurugan
Ramachandran, 14,
Abdulkalam Nagar,
Mannargudi, Thiruvarur
district, Thiruvarur, Tamil
Nadu - 614 001.
9 Tirunelveli District Registrar, 1.
Tirunelveli district. V.Sankaranarayanan,
M/44/2024, s/o.
Valuer No.1:- Velmurugan, D.No. 79,
Manikanda Saravana North side, Srinivasa
Moorthy, 10, 1st Cross Avenue,
Street, STC Main Road, G Moolakaraipatti Main
O A Colony, Road, Tirunelveli-
Palayamkottai, 627007. Mobile No.:
Perumalpuram, 9626350008 (Crl.O.P.
Tirunelveli, Tamil Nadu - No. 22427/2025)
627 007.

Valuer No.2:-

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Vembu S N, No.15c,
Parisutha Aavi Street,
Tirunelveli,
Palayamkottai,
Tirunelveli, Tamil Nadu -
627 002.
10 Tenkasi District Registrar, Tenkasi 1.
district. K.Saravanakarthikeyan
, M/34/2023, s/o.
Valuer No.1:- Kuppusamy, 103,
Ms Vinayaki G, Mattapath Street,
D/o.Gulandaivel, 105, Thenkasi District -
Chairman Shanmuga 627811. 9942609870.
Nadar Road, Sivakasi
Municipality, Sivakasi, 2. M.Abdul Rahim,
Virudhunagar, Tamil Nadu S/o Mohammed Bilal,
- 626 123. 15-1-21/1, Katiravan
Colony,
Valuer No.2:- Poolankudiyiruppu
A.Raveendran, 2/2219b, Pudur, Tirunelveli
Sasi Nagar, Sivakasi, Cell: 8438547376,
Tamil Nadu - 626 123. 9789698168.
10 Theni District Registrar, Theni 1. R. Senthil Kumar,
district. 41, s/o. Raju, Perumal
Kovil Street,
Valuer No.1:- Lakshmipuram,
Ravishankar R, No.8, Periyakulam TK,
Thiyagi Nithyanandam Theni-625523. Cell:
Lane, Perumal Kovil 9566049493. (Crl.O.P.
Street (valayal karan No. 7125/2025)
street), Bodinayakanur,
Theni, Tamil Nadu - 625 2. R.Manikandan
513. 40/24, S/o Rajan, Ward

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

7-2-151, Peruratchi
Valuer No.2:- Office
M Sahul Hameed, 16/9-1 Street,C.Pudupatti
1, Ramalinga Mooppanar Post, Uthamapalayam
Lane, Jakkampatti Theni, taluk, Theni.
Tamil Nadu - 625 512. 9894119998,
6380411181

(ii) The head of the Committee need not be present for the valuation

fixation of each district and each property. He will participate randomly in the

proceedings whenever and wherever possible. The District Registrar and the

two valuers shall form the sub-committee for each district that shall undertake

the valuation of properties. The sub-committees will assemble on 12.05.2025 at

the office of the concerned District Registrar. If, for any reason, a meeting does

not occur in any district, a subsequent expedited date shall be fixed and notified

by the concerned District Registrar which can be intimated to other

representatives and the competent authority.

(iii) In the proceedings of the sub-committee, one representative on behalf

of the Company for each district shall be present. Similarly, two representatives

from the depositors shall also be present. The Company's representative, as well

as the depositors' representative, will be entitled to accompany the sub-

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

committee during physical visits, and they can provide their inputs during the

committee's deliberations on fixing the market value. They are entitled only to

give their inputs, and it is up to the committee to act upon the suggestions.

(iv) The committee, comprising the District Registrar and two valuers,

shall assess each property as is typically done for determining market value for

banks, etc. The committee shall acknowledge that the primary purpose of this

exercise is to ascertain property values to further determine the matter. The goal

is to establish, as accurately as possible, the exact market value that the

properties can achieve. If, due to any specific factor, the exact value is not

determinable, the approximate value shall be determined to the best judgment of

the committee. Under no circumstances shall the committee indicate that it is

impossible to determine the value or that it requires additional information, etc.

The essential features relating to the property, whether it is vacant land, plotted

land, approved plot, has road access or not, any title dispute or claims by third

parties can also be noted. Any other difficulties that may arise if the property is

to be auctioned can also be noted.

(v) The District Registrar shall provide all necessary documentary details,

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

guideline values, etc., for the inspection to be conducted and the market value to

be estimated. This Court will determine the remuneration for the approved

valuers, and it will be paid once the report is filed. The sub-committees shall

keep in mind the pious purpose of helping out the scores of hapless victims, and

the task shall be accomplished as swiftly and quickly as possible.

(vi) In the first hearing, the sub-committee shall draw up the minutes

regarding how it is proposed to value the property, which includes the collection

of documents, physical inspections, measurements, etc. The dates shall be

notified to the representative of M/s.Neomax Properties Private Limited or such

other company’s representative, as well as to the depositors, so that they can also

accompany them at that time.

(vii) The minutes and progress shall be notified to the competent authority

periodically. The competent authority shall ensure and request all district sub-

committees that the valuation procedure is progressing.

(viii) In any event, the valuation shall be completed on or before

05.06.2025, and a report shall be drawn up and submitted to the competent

authority. The competent authority shall review the report and provide

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

comments regarding each district, indicating whether it agrees with the

valuation or if any particular flaws exist. Along with its comments, a detailed

report shall be submitted to this Court by 13.06.2025.

(ix) The competent authority shall monitor progress and file a memo

before this Court on 30.05.2025, including the progress. If there is any

difficulty, the parties concerned will be entitled to mention the matter before the

Court. If any valuer has any difficulty in being part of the committee, the same

shall be immediately brought to the notice of the Court and it is made clear that

replacements will be made from the list;

(x) This valuation aims to ascertain the total value of the available

resources in order to make a decision regarding distribution. The arguments

presented indicate that some victims wish to retain the plots originally allocated

to them, while others prefer compensation in cash. Nothing is decided at this

stage. After receiving the valuation report, further orders will be issued

concerning the modalities and the formation of the claim verification committee,

among other matters.

(xi) The above exercise will not in any manner come in the way of the

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

investigation, and the investigation shall swiftly proceed. The final report shall

be filed as expeditiously as possible. Even the statutory attachment

proceedings, if any, shall proceed.

(xii) Call all these matters on 16.06.2025.

29.04.2025

grs

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

ANNEXURE - I

S.No. Properties Type of Value of GO If OA Filed

Description Property Property (Rs). Number Number
and Date and Date
1 SwarnaBoomi – 230750 5,76,87,500/- G.O. O.A. No.
Hill Top Sq.ft (Ms) No. 20/2024,
A1- Neomax 195, Dated:
Properties Pvt Ltd. Dated: 10.09.2024
Adhanur village, 08.03.202
Vadipatti Taluk, 4
Madurai District
2 Muduvarpatti– 231834 5,79,58,500/- G.O. O.A. No.
Alanganallur Sq.ft (Ms) No. 20/2024,
A1- Neomax 195, Dated:
Properties Pvt Ltd. Dated: 10.09.2024
Muduvarpatti, 08.03.202
Vadipatti Taluk, 4
Madurai District.
3 A94 - Auro Chits 2 66,21,928.21/- G.O. (4D) O.A. No.
Pvt Ltd and A95 – Bank No. 19, 14/2024,
Lavanya’s Bank Accounts Home Dated:
Accounts (Pol.XIX) 29.07.2024
KarurVysya Bank Dept.,
Accounts dated:
17.05.202
4
4 Accused 109 Bank 3,32,97,271.18 G.O. (4D) Preparation
Companies and Accounts /- No. 90, for filing
Accused Person’s Dated: OA
Bank Accounts 17.10.202
Various Banks 4

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

5 Mamandoor 133 Acre 16,49,64,653/- G.O. (4D) Preparation

Project. Accused 14.46 No. for filing
Companies and Cents 115/2024 OA
Accused Person’s Dated:
Properties 22.11.202
Chengalpattu 4
District,
Madurantakam
SRO,
Kallapiranpuram,
Neikuppi,
Malaivayavoor,
Moosivakkam
Villages
6 A-155 5650 Sq.ft 28,25,000/- G.O. (4D) Preparation
PalanivelMurugan’ (3 Plots) No. for filing
s 3 Polts Located 115/2024 OA
in Theni Western Dated:
Valley Project 22.11.202
Theni District, 4
Periyakulam
Taluk,
Thamaraikulam
Bit II Village,
Periyakulam SRO.
32,33,54,852/-

S.No. Properties Type of Value of Property (Rs). Pending

Description Property Details
1 Madurai District, 79 Acres 98 Rs.4,26,62,223.12 ps This
Parapathi Village Cents Proposal
(No. Joint IV, is under
Madurai South process.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

SRO) and
Koodakovil village
(Thirumangalam
SRO)
2 Highcourt Back Side 39 Acres Rs.34,39,89,460/- This
Property 6(1/4) Cents Proposal
Companies and is under
Accused Person’s process.
Properties. Madurai
District, Madurai
East Taluk,
Othakkadai SRO
(Present Joint No.I
Madurai North
SRO), Ulaganeri
Village, Tallakullam
SRO (Present Joint
No.I Madurai North
SRO) Ilanthaikulam
Village and
Theppakulam SRO
(Present
Karuppaurani SRO)
Kalikappan Bit-I
Village.

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ANNEXURE - II

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

To

1. The Inspector of Police,

EOW-II,
Madurai.

2. The Secretary to Government,

Home Department,
Government of Tamil Nadu,
Fort St. George,
Chennai.

3. The Additional Director General of Police,

Economic Offence Wing, Chennai.

4. The Joint Director,

Directorate of Enforcement,
Chennai.

5. The Commissioner,
Income-Tax Department,
Chennai.

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 Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

D.BHARATHA CHAKRAVARTHY, J.

grs

Crl.O.P.(MD).No.15498 of 2024 etc., (batch cases)

29.04.2025

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