Central Chronicle News
Balodabazar, Dec 01: The absconding director of Garima Real Estate Balkishan Kushawaha has been arrested by Balodabazar- Bhatapara police from Vardha in Maharashtra and investigations are on about the total assets build up by this Company. The Police has already arrested another Director Banvarilal earlier and four others are still absconding.
According to Police, Garima Investment has taken money from people alluring them of good returns and after this they ran away closing their office. A case of 420 and other sections was filed against the Director of the Company in Suhela Thana. In the preliminary complaint, the Director of firm is having charges of cheating people of funds worth Rs 1 crore. In addition to this they have made other invest worth crore from other places. The victims of this fraud have put up an application demanding refund of their invested amount and according to them the Company has duped people of funds worth Rs 25 crore.
Total 7700 applications received for refund:
A total of 7700 applications were received from people of Balodabazar – Bhatapara area for refund of their invested amount from this Company. The COmpany has also made people invest in it from Suhela and other cities.
Disclosure about assets worth Rs 65 lakhs:
The Police is constantly interrogating the accused and in the information disclosed, they have come to know about their investment worth Rs 65 lakh. Now the police would seize this property and refund the amount invested by the people. The Police is taking action to arrest the absconding directors of the Company and under this so far 8 Directors have been arrested from different Chit Fund Companies in the district so far. They have been sent to jail and now seizure of their property is going on.
One director of Sunshine Infrabuild Corpn arrested
Balodabazar: Balodabazar Police has arrested the Director of Chit fund Company viz. Sunshine Infrabuild Corporation Ltd., Vakil Singh Baghel from Preet Vihar in Delhi and brought him to Balodabazar.
SP Balodabazar IK Alesela making disclosure in this regard informed that the Director and main accused of Sunshine Infrabuild Ltd has been arrested. In addition to this there can be involvement of some other persons with this firm and search and interrogation for them is in process.
It is worthwhile to mention here that Sunshine Infrabuild Corporation Ltd., has reportedly cheated around 6000 investors from states with funds to the tune of Rs 13.22 crore.
Balodabazar Police has not left any efforts to arrest the Director of this Chitfund Company and it is as per direction from SP IK Alesela that strict action is being taken against fake Chit Fund company which have run away with hard earned money of investors making hollow promises. As per information in this regard, this is the 9th action against the Chit Fund Company, wherein the Director of the Company has been arrested and sent to jail.