Vikrant Finance Company Case: Crime Branch presents charge sheet

Crime Branch, Jammu today presented charge sheet in the infamous Vikrant Finance Company scam in the court of Chief Judicial Magistrate, Rajouri.
Vikrant Finance Company Case: Crime Branch presents charge sheet
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Crime Branch, Jammu today presented charge sheet in the infamous Vikrant Finance Company scam in the court of Chief Judicial Magistrate, Rajouri.

The company has allegedly duped a large number of persons swindling crores of rupees.

Case FIR 19/2014 u/s 420, 406, 409, 467, 468, 471, 120-B, RPC was registered in P/S Crime Branch, Jammu on the basis of a complaint received through RBI in Crime Branch, Jammu wherein the complainant had alleged that a company under the name & style of "Vikrant Finance Company" was floated in District Rajouri by the accused persons under a notion that the same was registered with the RBI and with the Registrar of Companies etc, a handout by Crime Branch Jammu said.

During the course of investigation, it was found that accused persons established the finance company without any authorization from RBI and started accepting deposits illegally.

The company turned defaulter and the accused persons refused to pay/liquidate the public deposits amounting to Rs.8,83,03,977/- which belonged to the depositors.

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