Luxury drive: Fraud count up by 42 cars

There’s more to it than meets the eye. The number of luxury cars purchased by the owner of fly-by-night investment company — V Care Multi-Trade Private Limited — continues to grow.

There’s more to it than meets the eye. The number of luxury cars purchased by the owner of fly-by-night investment company — V Care Multi-Trade Private Limited — continues to grow.

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In addition to the 34 Mercedes and 24 Tata Safaris, company owner, Gurjeet Singh, had purchased 42 more Tata Safaris from another city showroom — Gold Rush — without making the payments. The police probe had earlier revealed that the company, which had allegedly duped thousands of investors of several crores, bought the cars between December 2011 and February 2012. The company purchased these vehicles to lure investors and business partners before packing up its business two months ago. Consequently, 18 investors registered an FIR against V Care Multi-Trade Private Limited with the Krishna Nagar police in July last week, after which company owner Gurjeet Singh and his wife Madhumita Kaur — who had disappeared after shutting shop — were arrested on August 30. Police said FIRs had also been lodged in other districts and states. Advocate Neeraj Kumar, counsel of Gold Rush showroom, told HT, “V Care company initially cleared payments of eight vehicles while the remaining payments of around Rs. 1.5 crore is still pending. The payment was made through cheques, which bounced forcing us to take legal action against the company.”

The counsel said, “The entire fraud would have been checked much before the company vanished, but the local police did not react on our repetitive complaints. We have also filed the application in the court about the police inaction. The next hearing is fixed on September 12.”