Jammu: The Crime Branch of J&K Police on Sunday registered a criminal case against two brothers for allegedly running fraudulent finance companies here to dupe investors.
“Crime Branch Jammu booked Managing Director/Directors of Finance Company viz Vikas Mahajan & Lokesh Mahajan both sons of Late Bal Krishan Mahajan R/O Gurha Bakshi Nagar, Jammu by registering a formal criminal case against them under relevant provisions of law for their involvement in running fraudulent companies i.e. M/S Samridhi Finance Limited, S.K. Business Corp and Mahajan Co. and after hatching criminal conspiracy duping the gullible investors by fraudulent means of their hard earned money,” a Crime Branch spokesman said.
A written complaint was lodged by D. K Gupta S/O Late Krishan Lal Gupta R/O Tara Vihar Plot No. 13, Lane No. 1, Behind Soap Factory, Paloura, Jammu in Crime Branch Jammu through Reserve Bank of India (RBI) against Managing Director/Directors of Finance companies i.e., Samridhi Finance Limited , S. K Business Corp. and Mahajan & Co., alleging therein that they are running these companies by fraudulent means and were duped of large sum of money.
The Reserve Bank of India said out of three companies only M/S Samridhi Finance Ltd was previously registered with Reserve Bank of India, the company was not entitled to accept public deposits, the registration Certificate of the company was subsequently cancelled. Moreover S.K Business Corporation and Mahajan & Company are not registered with the Reserve Bank of India and are not authorized by the Reserve Bank of India for accepting public deposits.
The spokesman said as per procedure a preliminary verification was initiated by Crime Branch Jammu.
“During the course of enquiry record/information was obtained from the concerned quarters and it has been prima-facie substantiated that the suspects Vikas Mahajan and Lokesh Mahajan have hatched criminal conspiracy in connivance with each other and created M/S Samridhi Finance and S.K Gupta Company in order to dupe the hard earned money of the complainant for their personal wrongful gain and corresponding wrongful loss to complainant. The omissions and commissions, therefore, on the part of Managing Directors of the above named Finance Companies prima facie, constitute offences punishable U/S 420, 120 RPC and a formal case is registered in P/S Crime Branch, Jammu against the above mentioned accused persons for in depth investigation,” he added.