CB books Noida-based company for luring, cheating investors

Jammu:  Crime Branch Jammu registered a criminal case under relevant sections of law against a Noida-based Company –  Garvit Innovative promoters Limited (Bike Boat) with its Head office at Gautam Budh Nagar, Noida UP, managed by CMD Sanjay Bhatti and other Directors, for their involvement in luring and duping innocent citizens in general and the complainant in particular of their hard earned money by inviting investments in the company in Bikes on the promise and assurance of good returns but duping the complainant of his hard earned money.

“A written complaint was received in Crime Branch, Jammu by Suresh Kumar Bhat S/O Late Lambodar Bhat R/O H.No.308, Sector-3 Ext. Vasant Vihar, Trikuta Nagar Jammu and his wife Chetna Bhat, alleging therein that he along with other investors have been cheated by the above mentioned company by way of floating an attractive scheme of investing Rs 62100 for one bike and multiples of the amount and in return the company would provide Rs 5175 EMI for one year and Rs 4590 as rent of the bike monthly which was used by the company for one year on which he entered into a formal agreement with the company as investor for one year. He joined in the month of July 2018 with the assurance that they would receive the amount as per company scheme and the complainant invested for 7 bikes in the name of his wife Chetna Raina Bhat and three bikes in his personal name in the month of July 2018 and later in the month of October 2018 invested for 51 bikes in the name of his wife Chetna Bhat with gross amount of Rs 37, 88,100. In the month of December 2018 the Company dishonoured its commitment and stopped making payments.  On this the complainant personally met Sanjay Bhatti CMD of the company who assured to resolve the matter but did nothing in regard. Later the complainant came to know that the said company through its CMD and the directors had planned and cheated many other people also in the same way as they have been cheated,” a spokesman of Crime Branch said.

On receipt of the complaint, a preliminary verification was initiated and during the course of enquiry it was found that the complainants have transferred money into the account of CMD Sanjay Bhati and others Directors of Garvit Innovative Promoters Ltd. Gautam Budh Nagar Noida UP. They have allured the complainant and others to invest money with attractive plans of good returns but did not fulfil their promise by committing criminal breach of trust.

“The CMD Sanjay Bhati and the Directors of the company have cheated and misappropriated the money of the complainant. They have intentionally, deliberately and dishonestly deceived the complainants of their hard earned money.   The omissions and commissions, on the part of Sanjay Bhati and other Directors of Garvit Innovative Promoters Ltd. Gautam Budh Nagar Noida, UP prima facie constitute offences punishable U/S 420, 406/ RPC. Accordingly, a formal case is registered in P/S Crime Branch, Jammu against the above mentioned accused person for in-depth investigation,” the spokesman siad.

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