SATISH HANDA
Naraingarh police station in Ambala district busted a racket of six persons and registered fraud case against them under sections 406,420, 120 IPC on the complaint of Sadhu Singh resident of village Bhurewala near Naraingarh a retired Subedar from army and 26 others complainants all residents of Naraingarh, Shahzadpur, Laha, Panjlasa and Kulharpur in surrounding areas. The cheats running a racket were identified as Rasal Singh a mastermind in the racket resident of Sector 17, Jagadhari, Sunil Kumar Diwan, Kuldeep, Vinod Sharma all residents of Jagadhari, Randhir resident of village Ambly and Pawan Kumar resident of village Batora running investment companies in the name of The Nationalized Bank Employees and Adarsh Public Cooperative Society Limited functioning under the banner T&C Society allegedly collected amount worth Rs 50 crore from nearly 300 depositors in the area assuring 12% rate of interest on their deposits much higher than offered by nationalized banks. The complainant alleged racket running investment companies running office in four shops near the bus stand Naraingarh closed down the office all of sudden and went underground after collecting money.
According to complainant Sadhu Singh, he met Rasal Singh at State Bank of India branch at Naraingarh to deposit money in the bank through fixed deposits and was offered attractive rate of interest on fixed deposits much higher than deposits in the bank. After convinced with the offers, he deposited Rs 24 lakh through fixed deposited in his name as well in the names of his wife Kuldeep Kaur, son Inderjit Singh settled in abroad and daughter-in-law Sarvjit Kaur. Sadhu Singh told that on maturity of seven fixed deposits of value Rs one lakh each he went to get money but was compelled to renew all deposits for a period of another one year. He told that investment company organisers avoided making payment against fixed deposits for one reason or the other for several days when he lodged a complaint with police.
SHO Naraingarh Arvind Kumar told media persons that police started search for six persons of investment company closed down their office after collecting huge amount from investors and went underground. He said. Police raided various places for the arrest of alleged accused and their mobile phones were found switched off. He said, there are 27 complaint against investment companies managed to flee after collecting amount worth Rs 50 crore from nearly 300 depositors and investigation reveals that the organisers of investment companies collected deposits, invested collected money on the purchase of several properties in the area and sold out the same, set up few industrial units including a pharmaceutical manufacturing company at nearby Kala Amb industrial zone in the names of their relatives and offered loans on behalf f investment companies to their known persons from the amount collected through fixed deposits. SHO assured that all cheats would be arrested by the police soon and pushed behind bars.
