UP STF identifies over a dozen Delhi-NCR firms providing ‘services’ to Ablaze | noida | Hindustan Times
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UP STF identifies over a dozen Delhi-NCR firms providing ‘services’ to Ablaze

The special investigating team (SIT) constituted to probe the alleged Ponzi scam run by Anubhav Mittal’s firm Ablaze Info Solutions Private Limited has identified more than a dozen firms in Delhi-NCR that allegedly provided non-existent services to Ablaze on a ‘cash back’ basis, i.e. part of the payment was later returned to the company. The SIT has almost completed the probe involving the firms in connection with thej larger probe against Ablaze, which has been accused of being involved in a mult-ilevel marketing Ponzi scheme in Noida.

noida Updated: Feb 27, 2017 13:59 IST
Peeyush Khandelwal
According to UP special task force (STF) officials, the firms are either proprietorship or partnership firms and were involved in transactions of crores of rupees with Ablaze. The officials refused to disclose the figure, but said the amount involved was “heavy”.
According to UP special task force (STF) officials, the firms are either proprietorship or partnership firms and were involved in transactions of crores of rupees with Ablaze. The officials refused to disclose the figure, but said the amount involved was “heavy”.(Burhaan Kinu/HT FILE PHOTO)

The special investigating team (SIT) constituted to probe the alleged Ponzi sch run by Anubhav Mittal’s firm Ablaze Info Solutions Private Limited has identified more than a dozen firms in Delhi-NCR that allegedly provided non-existent services to Ablaze on a ‘cash back’ basis, i.e. part of the payment was later returned to the company. The SIT has almost completed the probe involving the firms in connection with the larger probe against Ablaze, which has been accused of being involved in a multi-level marketing Ponzi scheme in Noida.

According to UP special task force (STF) officials, the firms are either proprietorship or partnership firms and were involved in transactions of crores of rupees with Ablaze. The officials refused to disclose the figure, but said the amount involved was “heavy”.

“The probe in connection with firms that provided services to Ablaze is almost over. We have evidence that amounts were paid to these firms in name of outsourcing services of ‘likes’ and manpower supply. The firms later gave the cash back to Mittal and his firms. The amounts paid were debited as expenditure from Ablaze’s accounts for the services availed and a part of it was returned by such firms,” said Rajiv Narayan Mishra, additional superintendent of police, UP-STF.

“The debited amounts were paid through banks while the evidence of the cash back is with us in the form of oral statements of the accused persons. Statements of the owners of these firms will also be recorded soon,” he added.

He also said that final legal action on the allegations against such firms will be decided by the SIT soon.

On February 2, the UP-STF had arrested Mittal, along with company’s CEO Shreedhar Prasad and technical head Mahesh Kumar. Later, STF also arrested Atul Mishra, a relationship manager with Yes Bank, for allegedly entering into a criminal conspiracy with Mittal and providing him prior information about the bank’s reports on suspicious transactions, raids and investigations regarding Ablaze.

“The three officials of Ablaze are in judicial custody at Lucknow after Enforcement Directorate (ED) officials took them to Lucknow for investigation. Atul Mishra is still in the Gautam Budh Nagar jail,” Mishra added.

An ED probe in the case is also underway after the directorate also registered a case of money laundering on the basis of the FIR registered by the UP-STF in connection with Ablaze.