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SEVEN MORE DIRECTORS INCLUDING TWO PROMOTERS OF GARVIT INNOVATIVE PROMOTERS

November 25, 2020 10:11 PM

INNOCENT VICTIMS WERE CHEATED TO THE TUNE OF APPROX 42 THOUSAND CRORES ON THE INDUCEMENTOF GOOD RETURN IN A PONZY SCHEME-“BIKE BOAT”., VARIOUSCASES REGISTERED IN NOIDA, UP AS WELL AS IN OTHER STATES AND INVESTIGATION BY DIRECTORATE OF ENFORCEMENT  

New Delhi (Face2News)

Number of victims have filed complaint against Sanjay Bhati & ors. of M/s GarvitInnovative Promoters Limited having its registered office at Plot No.1, Chiti,Dadri, Distt. Gautam Budh Nagar, Uttar Pradesh regarding cheating of Rs. 42thousand core approx. It is alleged that accused persons have induced thevictims to invest Rs. 62,000/ for a bike and to receive Rs. 9500/ monthlyincluding principle and rental income on bike for one year. Due to lucrativeoffer of alleged, number of victims invested their hard earned money in thisscheme. In January 2019, alleged company launched Electric-Bike scheme andoffered to deposit Rs. 01.24 lacs for a Bike and to receive Rs. 17000/per monthtill one year. Initially alleged had repaid the assured amount but afterwinning confidence of investors, they absconded.

Investigation: Duringthe course of investigation, accountdetails of the alleged company M/s Garvit Innovative Promoters Limitedwere obtained from M/s IDBI Bank Yamuna Vihar, Delhi, ICICI Bank Pallavpuram, Meerut/Khurja Branches and also from Noble Co-operative Bank, Noida.Reply from the RBI was also received, wherefrom it was revealed that allegedcompany M/s GIPL was not registered with RBI as a NBFC and was not authorizedto collect money from public. During the course of investigation, it isrevealed that approx 8000 victims are Delhi based and their cheated amountis approx 250 crore. From the investigation conducted, number of propertiesworth Rupees several hundred crores havebeen found and investigation on the same is in progress. It furtherrevealed that Directorate of Enforcement Lucknow Zonal office is alsoinvestigating in this issue and number of cases are registered in Noida U.P.and other States.

Modus Operandi:  Accusedpersons used to induce the victims to invest Rs. 62,000/ for a bike and toreceive Rs. 9500/ monthly including principle and rental income on bike tillone year. Due to lucrative offer of alleged, number of victims have investedtheir hard money in this scheme. In January 2019, alleged company launchedE-Bike (electric Bike) scheme. In this scheme ,they again offered lucrativeoffer to invest Rs. 01.24 lacks for a Bike and to receive Rs. 17000/per monthtill one year. Further, accused persons induced more return on moreinvestments. Initially, alleged had repaid the assured amount to the investorsbut after winning the confidence, they defaulted and absconded.

Arrest: Theaccused Directors/Officials 1) Sunil Kumar Prajapati s/o KalwaSingh r/o 91, Girdharpur, Nabada Bulandshahr, Uttar Pradesh, 2) Vinod Kumar s/oKapoor Singh r/o 56, Jatwara, Jhajjar, Haryana, 3) Karan Pal Singh s/o KehariSingh r/o H. No. F-83, Ganga Sagar, Mawana Road, Defence Colony, Meerut, UttarPradesh, 4) Lalit Kumar s/o Chatar Singh r/o Vill-Saidipur Seth Post MawanaSaidipur Seth, Meerut Mwana, Meerut, Uttar Pradesh, 5) Pushpender Singh s/oShivkram Singh r/o H. No. 399, Khand Mohan Nagar, Bulanshahr, Uttar Pradesh, 6)Adesh Bhati s/o Giriraj Bhati r/ovillage Chiti Distt. Gautam Budh Nagar Uttar Pradesh, 7) Tarun Sharma s/o Surender Nath Sharma r/o77-A, Phase-III, Vikas Nagar, Police Station Vikaspuri, New Delhi are running in judicial custody in caseFIR No. 340/19 P.S. Dadri Distt. GautamBudh Nagar U.P. They were formally arrested in case FIR No.123/19 registered atPS EOW after obtaining permission from the concerned court. It is important to mention that six Directorswere arrested in this case on 19th November 2020. With the latest arrests, 15 Directors of the Company has been arrested by EOW, Delhi Police till date.

Furtherinvestigation of the case is in progress.

 
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