Maharashtra: Four booked for cheating investors of more than Rs 68 lakh

An offence has been registered against four persons of an investment company for allegedly cheating people of more than Rs 68 lakh in Maharashtras Thane district police said on SundayA case under relevant provisions of the Indian Penal Code and Banning of Unregulated Deposit Schemes Act has been registered against four persons connected to Kalkaam Real Infra India Limited an official from Thane police saidAt least 17 people had invested with the company and were promised 16 to 20 per cent returns in RDs and double the amount invested in 60 months he saidThe victims had invested in the firm since 2013 and had not received any returns The accused closed their offices and absconded the official said adding that no arrests have been made in the caseAlso Read Mumbai Fire breaks out at garment unit in BhandupMeanwhile in an another case in Pune the police on Saturday said that the Pune Police registered a case against a man for allegedly luring investors with a promise of big returns and cheating them to the tune of Rs 300 crore an official said on SaturdayThe Bundgarden police on Friday registered an offence under relevant provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors MPID Act based on a complaint lodged by an investor who allegedly lost Rs 36 lakh in the fraud the official saidPreliminary investigations into the complaint revealed that the accused had allegedly cheated at least 200 investors by taking loans in their names he saidThe accused operated a firm called Ashtavinayak Investment in Camp area of the city and lured people with a promise of getting them huge returns on their investment the official saidThe accused took loans in the name of investors and told them that the loan amount will be invested in the firm itself and they see big returns and they would not have to repay the loans he saidNo arrest has been made in the case so far and further probe is underway the official addedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever