TN govt orders seizure of 5 emu firms' assets

Seized assets to be auctioned, money to be repaid to depositors cheated by these companies

The Tamil Nadu government has passed an order to attach the assets and properties of five emu farm companies. The companies include the Susi Farms, which has been named as a top fraudulent company in the Rs 1,000-crore emu scam in Tamil Nadu. The other companies are NS Agro farm, Queen Emu Farms, Alamu Nidhi and T V S Emu.

Meanwhile, Perundurai-head quartered Susi Emu Farms Promoter M S Guru may also be charged under Goondas Act.

The assets seized from these companies will be auctioned under the Tamil Nadu Protection of Interest of Depositors (TNPID) Act. The Erode District Revenue Officer has been appointed to carry out these auctions and pay the money to the depositors, who were cheated by these companies, said an official from the state Government.

The official said so far Rs 21 lakh cash, 12 vehicles and documents for 50 acre of land were seized from the emu promoter and his wife and 7,445 Emu birds were also recovered from the company.

In a similar move, the local administration sized Rs 5.08 crore cash from Queen Emu Farms and Rs 1.68 crore from N S Agro along with 600 and 351 birds respectively.

Meanwhile, the Economic Offences Wing (EOW) of the Tamil Nadu Police may book Emu Promoter Guru under Goondas Act.

Guru considered to be the brain of a financial scam through Susi Emu Farms and five other sister companies includes Susi Emu Rusi Emu Pvt Limited, Susi Land Promoters, G1 Emu Zone, Susi Medical Care and Susi Emu Traders, which are existed only on paper.

According to Police sources, so far around 920 complaints were registered against Susi Emu Farms and rough estimate by the Department is the company must have cheated around Rs 60 crore.

The other major companies top heads, who were involved in the Rs 1000 crore Emu scam the largest ever in the history of India’s agricultural Sector, include Queen Emu Farm's Managing Director Mayilsamy (327 cases worth Rs 18 crore) and Key Gee Bright Live Stock India (Private) Limited owner Karthik Sankar (324 cases worth Rs 30.10 crore).