58 Emu birds auctioned

Erode: A total of 58 Australian emu birds, bought by investors from a bogus firm which promised them high returns, were auctioned here Friday by officials. The Economic Offences Wing here had last year registered a case against the owner of Sudhi Emu farm, Perundurai, on complaints by investors of not getting their money back. Some birds were seized by police from his farm. The Revenue Department in association with Animal Husbandry department maintained the birds. The auction followed an order by the Tamilnadu Protection of Interests of Depositors (TNPID) court. All the birds were sold to a man from Perundurai who offered Rs 100 for each emu. The officials said all emus confiscated from various firms in the district had already been auctioned and no bird is now maintained by the Revenue Department. However some moveable and immoveable assets of various emu firms are in court custody. If the judiciary orders auctioning that, officials said that too would be done at a later date On March 13, 2013 as per court direction 641 emu birds weere auctioned for Rs 3.85 lakh. Again in Sept 2013, some more birds were auctioned. The sale price of the bird which was Rs 35,000 each three years back, had dropped to Rs 100 now, officials said. Source :   http://zeenews.india.com/business/news/companies/58-emu-birds-auctioned_95365.html