Excelsior Correspondent
JAMMU, May 29: Crime Branch Jammu today arrested the main accused in Vikrant Finance Company scam, who was absconding for the last eight months.
The accused, identified as Kewal Koul of Ward number 7. Rajouri, had established the finance company along with other partners, including Rakesh Kumar of Ward Number 9 Rajouri, Ashwani Kumar of Ward Number 7 Rajouri and Kamal Gupta of Ward Number 12 Rajouri.
A case Fir number 19/2014 has already been registered under Section 420,406,409, 467, 468, 471 and 120-B of RPC against these partners of the company for cheating and misappropriating the deposited amount of innocent investors under a criminal conspiracy.
The case was registered on the basis of a complaint, according to which the company was accepting deposits from the public under a false notion that the same was registered with RBI. After the company turned defaulter and bankrupt, the accused persons started harassing the borrowers and depositors on one pretext or the other and also closed their establishment after duping the innocent depositors of their hard earned money, amounting about Rs 8,88,03,977. The Crime Branch team, headed by Mohd Ibrahim, Dy SP CB Jammu, conducted investigations into the case.
According to SSP Crime Branch Jammu, Mubassir Latifi, an amount of Rs 91.49 lacs has been seized so far and with the arrest of main accused, remaining amount of the depositors is also hoped to be recovered.
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