Maharashtra Government Moves To Recover ₹2,500 Crore In Maitreya Scam, Promises Refund To Nearly 30 Lakh Investors

Mumbai: The Maharashtra government has initiated decisive and concrete action against Maitreya Plots & Structures Pvt. Ltd. and Maitreya Superstructures Pvt. Ltd., two companies accused of defrauding thousands of investors across the state. A high-level meeting regarding the case was held on Wednesday at Mantralaya under the chairmanship of Minister of State for Home Affairs, Shri Yogesh Kadam.

The massive scam has reportedly affected 2.98 million (29.87 lakh) investors, with estimated fraud amounting to approximately ₹2,500 crore. So far, 31 FIRs have been registered, and criminal charges have been filed against 56 individuals, including key directors of the Maitreya Group.

During the meeting, Minister Kadam directed that the valuation of all properties seized under the Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act, 1999 (MPID) should be completed within six months. The estimated value of the attached properties is ₹1,500 crore. Following this, legal procedures should be fast-tracked to initiate the refund process within 8 to 9 months.

Minister Kadam firmly stated, “The protection of depositors’ interests is the government’s highest priority. The state is committed to putting an end to such fraudulent activities.” He further instructed concerned departments to create a time-bound action plan to ensure the return of funds to the affected investors under the MPID framework.

He also emphasised that all similar financial fraud cases across the state are currently under review. “The government stands firmly with the depositors. Strict action will be taken against companies involved in such scams. Our sole objective is to deliver justice to the common investor,” he added.

The meeting was also attended by MLA Kishor Appa Patil, Shri Amitesh Kumar (Principal Secretary – Special, Home Department), Shri Sureshkumar Mekala (Additional Director General of Police, Economic Offences Wing, Maharashtra), and other senior department officials.