Crime Branch books Noida based company for luring, cheating investors



JAMMU: Crime Branch has registered a criminal case against Noida based company- M/s Garvit Innovative Promoters Ltd (Bike Boat) for luring and cheating investors on Friday.
As per official spokesperson of investigating agency, sleuths of Crime Branch Jammu registered a criminal case under relevant sections of law against a Noida Based Company – M/s Garvit Innovative promoters Limited (Bike Boat) with its Head office at Gautam Budh Nagar, Noida (UP), managed by CMD Sanjay Bhatti and other Directors, for their involvement in luring and duping citizens in general and complainant in particular of their hard-earned money by inviting investments in Bikes on promise and assurance of good returns.
He further said, “A written complaint was received in Crime Branch, Jammu by Suresh Kumar Bhat, son of Late Lambodar Bhat, resident of House No 308, Sector-3 Extension Vasant Vihar, Trikuta Nagar Jammu and his wife Chetna Bhat, alleging therein that he along with other investors have been cheated by aforementioned company by way of floating an attractive scheme of investing Rs 62,100 for one bike and multiples of amount and in return the company would provide Rs 5,175 EMI for one year and Rs 4,590 as rent of bike monthly, which was used by company for one year, on which he entered into a formal agreement with the company as investor for one year. He joined in July 2018 with the assurance that they would receive amount as per company’s scheme and complainant invested for 7 bikes in the name of his wife Chetna Raina Bhat and three bikes in his personal name in the month of July 2018 and later in the month of October 2018 invested for 51 bikes in name of his wife Chetna Bhat with gross amount of Rs 37,88,100. In December 2018, the Company dishonoured its commitment and stopped making payments. On this, the complainant personally met Sanjay Bhatti CMD of company who assured to resolve the matter but did nothing in regard. Later, the complainant came to know that the aforesaid company through its CMD and Directors had planned and cheated many other people also in the same way as they have been cheated.”
On receipt of complaint, a preliminary verification was initiated and during the course of enquiry, it was found that the complainants have transferred money into the account of CMD Sanjay Bhati and others Directors of M/s Garvit Innovative Promoters Ltd. Gautam Budh Nagar Noida (UP). “They have allured the complainant and others to invest money with attractive plans of good returns but did not fulfill their promise by committing criminal breach of trust. The CMD Sanjay Bhati and Directors of the company have cheated and misappropriated the money of the complainant.
They have intentionally, deliberately and dishonestly deceived the complainants of their hard earned money. The omissions and commissions, on the part of Sanjay Bhati and other Directors of Garvit Innovative Promoters Ltd prima facie constitute offences punishable under Sections 420, 406 of RPC. Accordingly, a formal case is registered in Police Station Crime Branch, Jammu against the above mentioned accused person for in-depth investigation,” he added.