Crime Branch Kashmir produces challan against man for duping investors on pretext of doubling money

The accused had opened a Branch Office at K P Road Anantnag and under the garb of fraud company, lured people for investment on the pretext that the company will repay double of the invested amount in three years, the CBK said.
Crime Branch Kashmir produces challan against man for duping investors on pretext of doubling money
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Srinagar July 7: The Crime Branch Kashmir has produced a challan against a man who allegedly duped people on the pretext of doubling their investments after unauthorisedly opening a branch of a private company in southern Anantnag district, officials said today.

“The CBK produced Challan in Case FIR No. 52/2005 U/S 420 RPC of Police Station CBK before the Hon’ble Court of District Mobile Magistrate Anantnag against Bashir Ahmad Kichloo S/O Ali Mohammad Kichloo R/O Dooru Anantnag A/P Baghi Mehtab Srinagar,” said a spokesman of CBK, in a statement.

He said the case owes its origin to a written complaint received by Crime Branch Kashmir, in which the complainant had alleged that the management of private company “Surbhi Agro Tech Limited Company” with its Head Office at 296 Industrial Area Phase 1 Panchkula Haryana had opened its branch office at Anantnag in March 1998.

“The company collected a huge amount from the investors. However, in April 1999 the Company closed down its office at Panchkula Haryana and Anantnag Branch faced the same fate and thereby duped the investors of their hard earned money. Accordingly a Case FIR No. 52/2005 U/S 420 RPC was registered in Police Station Crime Branch Kashmir,” said the statement.

During the investigation it surfaced that Bashir Ahmad Kichloo had unauthorizedly opened a Branch Office at K.P Road Anantnag and under the garb of this fraud company, he lured innocent people for investment on the pretext that the company will repay double of the invested amount after three years of deposition. “And as such collected huge amounts from the innocent people,” said the statement.

The investigation further revealed that the complaint was made by Bashir Ahmad Kichloo itself and the accused closed down its office in 1999 under the pretext that the company had closed down its main office, said the spokesman.

“It also surfaced during the investigation that in order to save himself from the clutches of law and to deviate the attention of investors Bashir Ahmad Kichloo came up with a complaint against the Surbhi Agro Tech Limited Company. Pertinent to mention, during the course of investigation it came to fore that a case is already registered against the management of Surbhi Agro Tech Limited Company in Police Station Panchkula Haryana.”

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