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Report Dated December 25, 2016 11:26 PM
Col (retd) Manbhupinder Singh Atwal, now in Muscat, has accused an Ahmedabad based firm of cheating him of Rs.26 crore.
Mr Atwal who is the MD of MSA Global was in Gujarat in 2014 when he met Neeraj Singh of Shahibaug who told him he was in the same line of business and had several projects with the ministry of defence.
Atwal entered a limited liability partnership in a Project near Sakar in February 2015. He said that Shah asked him to be a 20% partner in Kinetics Solutions Pvt Ltd for Rs.20 crore, but when Atwal went to the city to sign the deed Shah hiked the price up to Rs.45 crore. Atwal then went on a fact finding mission and found that all Shah’s claims were false.
Report Dated December 1, 2016 1:41 PM
A con artist created a perfect profile of himself as the man every girl dreams of finding in her husband. He also claimed to be an entrepreneur and posted his profile on a matrimonial website.
A US NRI woman from Chandigarh fell for it and was conned and also lost Rs.40 lakhs that he collected from her, citing various reasons.
Based on her complaint the police arrested the con, Prashanth Paramkusham. The victim went to India on her parents insistence, to get married to the man.
The NRI family scanned several profiles on the Bharatmatrimonial website and they were impressed and taken in, and in 15 days they decided to marry and the couple were married on March 15. A week later the victim returned to the US.
Initially Prashanth said he would join his wife after getting a US visa. But his con was discovered when he borrowed money from his wife, and when the woman made further enquiries about the man to her shock she realised all his claims about his degrees, education qualifications, and job profile were lies.
Report Dated November 28, 2016 12:47 PM
The Income Tax Department has advertised that Benami or proxy transactions will be punished with rigorous imprisonment from 1 to 7 years and a fine, to make the public aware of consequences of making illegal deposits.
The warning comes as reports say that some people are renting others’ bank accounts to deposit their banned notes, thereby dodging tax authorities.
The RBI has also warned people of punitive action for exchanging or dealing in specified notes in an unauthorised manner.
The Income Tax Department has asked banks to report all cash deposits exceeding Rs.2.5 lakhs during the 50 day window provided to tender the now-defunct Rs.500 and Rs.1000 notes. The department said that under the Benami Act anyone who deposits someone else’s unaccounted money into their accounts will be treated as ‘Benamidar’ and any person who abets or induces the Benami transaction will be punished, and the deposit in the bank account will be liable for confiscation
The ruling could penalise people laundering money, as the act is more stringent than the Income-Tax Act of 1961.
Report Dated November 8, 2016 2:46 PM
Jaipur city police took Amit Bhansal into custody for duping NRIs by promising them shops in Jasla mall.
Police say Amit was one of several others who were on the run after duping investors of their money. He allegedly promised to complete the construction of the promised mall promptly, but several years later the mall was nowhere near completion.
The disappointed investors then tried every avenue to get their investment back, but the company officers by then, had left the city and where nowhere to be found.
Complaints were filed against the company owners in several police stations including Malviya Nagar police station, where the mall was supposed to be constructed.
The police claimed to have brought him from Gurgaon, and say Bansal had other partners too. They claim Bansal is being interrogated after which they will arrest him and his accomplices.
Reports say he was picked up from Delhi NCR, where he was living under a different identity.
Report Dated October 8, 2016 3:52 PM
The Kerala police in Thampanoor have arrested Andhra native, Venkitaram Babu, 48, who is wanted on charges of duping Rs.22 crore from NRI businessman Shaiju Mohammed Thaha who owned a business in Dubai.
Mr Babu purchased Rs.22 crore worth of oil from Shaiju on credit. As surety he had surrendered a copy of his passport, but he used his sources back in India to forge another passport and he escaped from Dubai.
Shaiju had filed a complaint at the Thampanoor police station, and the accused was nabbed when he tried to take a flight to Dubai from an airport in Visakhapatnam.