Crime Branch Jammu chargesheets director of private firm in 3 crore fraud case

Crime Branch Jammu chargesheets director of private firm in 3 crore fraud case

Srinagar, Dec 10 : Economic Offences Wing of Crime Branch Jammu produced chargesheet against accused an accused in Rs 3 crore fraud case. 


In a statement issued to Kashmir Despatch, a spokesperson said that the chargesheet was filed against Parsuram Rajnetbhai Pal of Gujarat in case FIR No. 96/2023 U/S 420, 120-B IPC P/S EOW, in the court for judicial determination for hatching criminal conspiracy and cheating the complainants of Rs 3 crore after luring them on the pretext of associating them to become partners by investing a refundable amount of Rs 3 crore in Armada Bazar. 


The statement reads that the case stems its origin from a written complaint lodged by Sanna Gandogra and Sanjay Kumar Gupta—both residents of Jammu alleging that the accused posing to be the silent partner/director of Armada Bazar Private Limited Company approached them to make a refundable investment of Rs 3 Crore for business of authorised products & services having grocery and daily utility items in terms of an agreement that the accused persons would pay Rs 12 lakh per month for 36 months to the complainants and also 4% of the net monthly billing of the Mart but the accused persons paid only an amount of Rs 12 lakh for two months and stopped paying the rest of the amount so agreed, thus putting the complainants to huge los.


It added that he later refused to pay back the amount and threatened to eliminate them if they filed any case against the accused persons. 


“On receipt of the complaint a Preliminary Verification was conducted and during the course of enquiry the allegations made were prima-facie substantiated leading to the registration of formal case under the relevant sections of law for in-depth probe.”


It reads that during the course of investigation all material evidence in the form of documentary record was collected besides statements of complainants & witnesses were recorded.


“The offences U/S 420, 120-B IPC were established against the accused for cheating the complainants. However, the investigation in the case continues to establish the role of others involved in the case,” it reads.

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