HC Clears Way for Auction of Properties in ₹516-Crore DFI Deposit Scam
The Andhra Pradesh High Court on Tuesday cleared the way for the auction of properties attached in connection with the ₹516-crore deposit scam involving DFI, enabling recovery of funds to repay victims. The court’s order allows authorities to proceed with the sale of seized assets to compensate depositors who lost money in the fraudulent scheme.
The DFI deposit scam, which came to light in recent years, affected thousands of investors who had entrusted their savings to the company. Investigations revealed widespread misappropriation of funds and financial irregularities. Following the probe, law enforcement agencies attached several properties owned by the company and its promoters.
The High Court’s decision is expected to expedite the repayment process, providing relief to defrauded depositors. Authorities have been instructed to ensure transparency during the auction process and prioritise repayment to genuine victims. Officials said the recovered funds would be distributed fairly, marking a significant step toward justice for those affected by the scam.
