Deputy Chief Minister Gopinath Munde announced this during a calling attention motion in the Legislative Council. The Government is also preparing to introduce an investor protection act in the state soon; the Centre has already given its nod, Munde said.

The State Government can only intervene in the dealings of plantation and finance companies on the basis of a specific complaint, Munde informed the House. As of now, the Government does not have any data or even estimates of how much land has been bought or used by such companies and how many depositors or investors each company has, he said.

However, Munde promised to give details of all such land transactions, companies and whether adivasi or agricultural lands were usurped by these companies. ``If we come across fraud of any kind, we willcancel all such transactions'', Munde told the House. If necessary, the Government will file a criminal case too, he added.

The issue was raised through a calling attention motion by Vijay Sawant (Congress) and Vyankappa Patki (Janata Dal).

Pagoda Forests, La-Tim, Sudhagad and Vasudha were the companies that needed to be looked into, they said. concerning four companies with land in Raigad district, that seemed to hoodwink investors/depositors.

Patki's estimate was that such companies had collected nearly Rs 13 crore from the public. In his reply, Munde said that Uday Acharya of CU Marketing, who was involved in a fraud through his finance company, has been arrested.