TANPID Court orders auction of Susi Emu company assets
Coimbatore: TANPID (Tamil Nadu protection of Interests of Depositors) Court has ordered that the assets of the multi-crore fraudulent company named Susi Emu be immediately auctioned off and its proceeds distributed to investors. The court ordered the auction of assets owned by Susi Emu.
Gurusamy, from Perundurai, Erode district, ran a financial institution called 'Susi Emu Farm'. Gurusamy and his wife were arrested in 2015 for fraudulently receiving a deposit of Rs 200 crore from customers for raising Emu and not returning the money.
A case has been registered against them in the TANPID court in Coimbatore and an investigation is underway. A petition was filed on behalf of the Government seeking an auction of the property seized from them. Judge Ravi ordered the auction of Susi Emu's assets in Perundurai.