E-Paper
Chandigarh firm cheated of ₹3.66 crore, 2 UP men booked
The accused claimed to be SEBI registered share brokers and duped the Chandigarh man out of ₹3.66 crore on the pretext of purchasing shares
Police have booked two residents of Ghaziabad, Uttar Pradesh, for duping a Manimajra-based firm out of ₹3.66 crore.
The accused have been identified as Ramesh Arora and Suman Arora, directors of Altruistic Trading Private Limited and KSBL Securities limited.
The complainant, Satya Dev Saimwal, director of Panchkula Finvest Private Limited in Manimajra, said he had met the accused in 2019 and they claimed to be SEBI registered share brokers. Saiwal said that he had given the accused ₹3.66 crore to purchase shares. However, he didn’t receive the shares and they were sold without informing him.
A case has been registered under Sections 406 (criminal breach of trust), 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC) at the Manimajra police station. The economic offences wing of the police is investigating the matter.
In another cheating incident, three Haryana men have been booked for cheating a resident of Kishangarh. The accused have been identified as Sukhdev, Sanjay and Madan.
The complainant, Ram Mehar, alleged that the accused had bought two vehicles from him on September 24, 2020, and paid ₹80,000. They told him that they will pay the rest of the amount in 36 instalments. However, they didn’t honour their promise. A cheating case has been registered at the IT Park police station.
