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Financial firm in Gurugram booked for duping people over easy car loan
Police said that the total number of victims may be over 600 across the Delhi-NCR, Rajasthan and Uttar Pradesh as investigation proceeds
Gurugram: A city-based financial firm and its owner were booked on Tuesday for allegedly defrauding at least 25 people to the tune of ₹50 lakh after alluring them with advertisements of easy loan to purchase cars, police said on Wednesday.
Police said that the total number of victims may be over 600 across the Delhi-NCR, Rajasthan and Uttar Pradesh as investigation proceeds. Police said between 2017 and 2019, the firm allegedly duped them by asking them to deposit down payment before the owner wrapped up the business based in Udyog Vihar Phase-1.
They said several victims had sought money from relatives, friends or money lenders to deposit the down payment to get a cab and were financially ruined.
Police said no incorporation or registration details of the firm were available yet. Explaining the modus operandi, a police official said that the firm ran a mobile advertising camp in Phase-I stating that those paying a ₹97,000 downpayment would easily avail a car loan.
“The firm used to keep a demo car at the camp to allure the victims which included taxi drivers,” he said.
Investigators said the firm used to promise disbursal of loans within two to three days and ensure vehicle delivery within a fortnight with help of car dealers.
Besides, it also promised cab drivers a deal with multinational companies (MNC) and hotels across Delhi-NCR wherein they would earn ₹3,000-4,000 per day for cab services.
On complaint of 25 victims, an FIR against the firm, its owner and other unidentified suspects was registered under sections 120B (criminal conspiracy), 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code (IPC) at Udyog Vihar police station on Tuesday night, said police.
Sanjay Kumar, one of the 25 victims and a cab owner from Delhi’s Mayur Vihar, alleged that he was duped of ₹97,000 that he deposited at the firm’s office in mid-2018 after spotting the advertisement camp.
“After initial promise of loan disbursal and vehicle delivery, they kept delaying everything. I was fed up and demanded a refund. However, the firm said ₹10,000 cancellation fees will be charged for which I agreed but even then, they never repaid me,” he said.
Kumar said that most of the victims were cheated of ₹1 lakh to ₹2.5 lakh in name of downpayment.
“They used to tell my colleagues of improper documentation and credit issues for less loan disbursal and thus took more down payment. They kept bouncers at the entrance to control anyone who tried to create ruckus,” he said.
The victim alleged that the firm owner had handed him and others cheques but all of them got dishonoured. “We 20-25 people have been cheated of at least ₹50 lakh,” he alleged.
Meanwhile, Manoj Kumar, assistant commissioner of police (Udyog Vihar), said at least 12 to 15 victims had approached them and submitted complaints against the firm.
“After an inquiry, the FIR was registered against the firm. Right now, we don’t know if the company exists or not but earlier it used to function from Udyog Vihar and shut its office in 2020,” he said.
ACP Kumar said that notices were sent on the emails and phone numbers of the firm owner and officials to appear before police for investigation but all remained unanswered till now.
“The victims have money receipts against payments and other documents including dishonoured cheques which prima facie established that they were cheated,” he added.
Kumar also said that the exact count of victims was not known completely but police will get official advertisements published in media appealing all the victims to join the investigations.
How the firm functioned
Opened an office in Udyog Vihar Phase-I and started advertising for easy car loan and quick delivery in 2017. Distributed pamphlets across Delhi-NCR advertising their loan scheme
Word soon spread regarding the firm’s ₹97,000 downpayment offer which was much lower than others
Promised applicants to get them tied with MNCs and hotels across NCR for earning up to ₹1.2 lakh per month
Took a booking amount of ₹1000 and used to inform the applicants next day about their loan approval for immediate downpayment
Kept bouncers at the office entrance to handle irate victims
