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Ludhiana: 5 directors of firm booked for ₹2.5-cr franchise scam
According to the complaint, the accused later told him that a franchise could not be offered for Ludhiana alone and advised him to apply for the franchise rights for Punjab, requiring a payment of ₹2.5 crore; they assured him that after paying ₹1 crore, he would start receiving the promised support, the complaint adds
The PAU police booked five directors of packed snacks firm based in New Delhi for allegedly cheating a Ludhiana industrialist of ₹2.5 crore under the pretext of offering him a franchise, officials said.
Police identified the accused as Ashok Aggarwal, Archana Aggarwal, Sharad Aggarwal, Priyanka Aggarwal and Vaibhav Aggarwal.
The FIR was registered after a complaint by one Satish Sood, a resident of Janpath Estate, Jhammat village. In his statement to the police, Sood said he contacted the company for a franchise and was asked to pay ₹25 lakh as advance. He said he later paid another ₹22.5 lakh on the promise of raw materials and trained staff.
According to the complaint, the accused later told him that a franchise could not be offered for Ludhiana alone and advised him to apply for the franchise rights for Punjab, requiring a payment of ₹2.5 crore. They assured him that after paying ₹1 crore, he would start receiving the promised support, the complaint adds.
Sood alleged the company reneged on its commitments and cut all communication after he made the payment. He filed a police complaint in September last year.
Sub-inspector Balwinder Singh, who is investigating the case, said the FIR was registered under sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code (IPC). Police have launched an operation to trace and nab the accused.
