Excelsior Correspondent
JAMMU, July 23: On the direction of Sub-Judge Judicial Magistrate Jammu, Police have registered a case against proprietors and directors of Sheen Finance Company and its associate firms for cheating the depositors.
The case has been registered at Nowabad police Station under Section 420, 409, 406, 120-B RPC against Baldev Singh Bahu of Pata Ploura, his son Yog Raj Singh Bahu, Nasib Singh Pawar of Akhnoor and Garu Ram of Muthi.
The case was registered on complaint of the depositors Karam Singh and others who alleged that the accused was not repaying back their deposited money despite repeated requests for the same. Whenever the complainants demanded the deposited money, the accused used to shift the liability on the new management as the company had floated three firms under the name and style of Sheen Finance Company, Sheen Agro Plantation and Sheen Road Links.
After remaining failed to get the deposited amount back, Karam Singh and others approached the court, which directed police to register an FIR against the accused.
Pertinent to mention that the Sheen Finance Company was running its business from a complex opposite GGM Science College Jammu since eighties. However, in 2002, the company allegedly started refusing to pay back deposits of the people following which some aggrieved approached the court later on.
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