Nagpur: Case against five Ramdev Baba Builders directors over alleged Rs 12.20 crore fraud on Gilda family
Sitabuldi police have registered an FIR, on a court order, over alleged investment fraud involving former Chhattisgarh Advocate General Jugalkishore Gilda and his family.
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A major case of alleged fraud in the name of investment has come to light in Nagpur. It is alleged that a total of Rs 12.20 crore was taken as investment from Jugalkishore Gilda, a former Advocate General of Chhattisgarh and senior advocate, and his family. An FIR has been registered against five directors of Ramdev Baba Builders and Developers Pvt Ltd.
Sitabuldi police registered the case following a court order. Police have begun an investigation under the Maharashtra Protection of Interest of Depositors (MPID) Act and sections relating to cheating.
According to the complaint, the Gilda and Chandak families had long-standing ties. During this association, the investments began in 2009. It is alleged that the accused assured that the invested amount would double in 28 to 29 months. They were also lured with attractive interest.
The complaint states that Gilda, his wife Sunita and son Anoop invested a total of Rs 12.20 crore with the accused through cheques and cash. The complainant says that even after the agreed period ended, they received neither the principal nor any profit.
According to the complaint, the accused had given post-dated cheques as security for the investment. However, all the cheques bounced when deposited in the bank. Gilda then approached the police with a complaint. He demanded that his money be returned and that action be taken against those concerned.
Another allegation has also been made in the case. It is said that the accused had agreed to give a property, but that property had already been sold. According to the complainant, this is how they learned that the accused had allegedly cheated other people as well.
According to the complaint, when no action was taken by the police and the Economic Offences Wing (EOW), Gilda approached the court. A hearing was held in the MPID court, after which the police were ordered to register a case and investigate.
On this order, Sitabuldi police have registered a case against Ramdev Baba Builders directors Gopal Harikishan Chandak, Mohan Harikishan Chandak, Sharadadevi Chandak, Ganesh Vitthaldas Chandak and Sujata Mohan Chandak. All the accused are reported to be residents of Arvi in Wardha district.
Police have begun the investigation. How true the allegations are, and what the facts of the investment transactions are, will become clear only after the investigation is complete.
