Pune : Galaxy Group directors arrested after 20 years for cheating people across India

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21 June 2019 : The Criminal Investigation Department (CID) of Maharashtra State has been investigating 26 offences registered against Galaxy Group of companies. Various offences were registered against the said group in Madhya Pradesh, Rajasthan, Uttar Pradesh as well and prime accused of this crime; directors of company had been absconding from last 20 year.

Former A.T.S. Chief of Maharashtra State, Shri Atulchandra Kulkarni took charge as A.D.G., C.I.D. Maharashtra state, Pune last Month. He requested Shri Asim Arun A.D.G., Anti Terrorism Squad, Uttar Pradesh to arrange a joint operation to trace out the absconded accused of the Galaxy crime. In a joint operation of the UP Police’s Anti Terrorism Squad (ATS) and the Maharashtra CID, two accused Directors were arrested from Lacknow on 19th June after 4 days of continuous tracking.

The arrested prime accused and Directors of Galaxy company are Satishchandra Bhagawatiprasad Mishra age 65 years and Ramkrishna Premchand Dube, age 58 yrs, both natives of Khalilabad, Sant Kabir Nagar. They are wanted by C.I.D in 26 offences and are also required by various investigating agencies across India.

The next task of the CID, Pune is to detain remaining absconders such as Pramodkumar Ganga Pande, Ghanshyam Kalidas Pande, Maifatullah Khan, Rahefirdous Aaftab Siddhiki, Satendra Vashishthya Tripathi etc all from UP.

Galaxy Group of Companies had 5 different companies registered with Kanpur Registar Of Companies Office. This company was operating in India through its 102 branches. In 1999 this company lured it’s investors by promising them to invest in high return schemes and misappropriated the collected money which was Rs 7,08,49,266. All these Directors absconded after closing their business within few months. In Mahrashtra, offences were registered against the said company in Wardha, Nagpur, Yawatmal, Akola, Washim, Bhandara, Amrawati, Chandrapur, Beed, Latur, Thane, Kolhapur and Ratnagiri districts.

CID Pune investigated all 26 offences and chargsheeted all the cases in the respective Courts of law. CID investigation revealed that, all 5 companies were not registered with R.B.I. as N.B.F.Cs and were not authorised to collect deposits from investors. Properties worth Rs 4,86,00,000 came to be seized during the investigation.

CID Maharashtra state had sent Investigation teams to U.P. several times before but failed to produce fruitful results. Joint Operation of Anti Terrorism Squad , Uttar Pradesh and Flying Squad of Criminal Investigation Department , Maharashtra State, their planned approach and hard work resulted in the arrest of absconders after 20 long years. Accused have been produced before the Hon. Court in Nagpur today and remanded in police custody till 25th June 2019.

C.I.D. officers D.I.G. (EOW) Shri. Jalinder Supekar, S.P. (EOW) Pallavi Barge, Ad. S.P. (Flying Squad) Shri Narendra Gaikwad, Dy.S.P. Shri Vilas Bhosale, PI Yashwant Nikam, HC Krishnakant Desai, and HC Dattatraya Bhapkar contributed to this action to bring the accused to face the law.