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| CB presents challan against nine persons involved in cheating | | | JAMMU OCT-07- Crime Branch Jammu has produced challan, against nine accused persons involved in cheating the customers of crores of rupees, in the court of law here today. The Crime Branch has seized/ freezed the immovable properties purchased by the accused persons out of the public money in various states.
Giving details of the case Sunil Sharma Senior Superintendent of Police Crime and Railways said that during the course of investigation of case FIR NO 9/2001 U/S 420,406,120 B RPC it came to light that one Prabakaran Plathiue (now expired) Managing Director, V K Kansal Director Accounts, J S Hazara, B A Manhas, Ghulam Mohammed Bhat, Nazir Ahmed Bhat, Safder Amin Manhas, Faqir Hussain and others had floated different Agro based non-banking finance companies under the name and style of M/S Endowment Plantation, Endowment Investment India Ltd and M/S Ocean Agro Farms India Ltd.
He said in order to cheat the innocent people of their hard earned money under different alluring schemes; the accused hatched a criminal conspiracy of collective investment scheme with high rate of interest and prompt return. Thus the management of these Agro based non-banking finance companies looted Zafer Ali Mir of Palearah Mandi and others of crores of rupees by openly violating the rules sand regulations as well as RBI and SEBI guidelines. The depositors have not been paid a single penny even after the maturity, he said.
He said a special investigating team was constituted and a special drive launched to nab the accused persons of various states including Kerala, UP, Punjab besides the J&K and records pertaining to the non-banking finance companies noted above and the amount of public money deposited with various banks by the accused were obtained and seized. About 300 depositors, who had deposited their amount with these non-banking finance companies, were examined and some of the deposit receipts produced by them were seized. The help of Forensic Science examination were sought and expert opinion obtained and offence established against the accused persons.
The SSP further said that by making hectic efforts, the Crime Branch team has identified the immovable properties purchased by the accused outside the state and seized the same. The properties include 35 kanal of land at Haripura Hindma, Desa Basi in Punjab, 270 bigha land at Yosufpur Saharanpur, Drug factory at Punjab, double storey building at Trikuta Nagar Jammu, Mineral water plant at Barrain Samba, one double storey building including two shops at Poonch, two halls, shops at KC Plaza, two shops at Mandi, triple storey building at Rajouri, Printing press at Surankot, shopping complex consisting of 24 shops with 32 kanals of land at Surankot Poonch, besides other assets.
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