Excelsior Correspondent
JAMMU, Mar 18: Crime Branch Jammu today produced challan against 10 persons who were controlling the management of M/s Endowment Agro Projects India Ltd and Endowment Plantation Ltd for cheating the innocent depositors.
Challan in case FIR number 23/2005, under Section 406, 420, 467, 468, 471 and 120-B/RPC against Prabhakaran Plathue of Chandigarh (expired), Varinder Kumar Kansal of Chandigarh (expired), Jarnail Singh Hanjra of Mohali, Varinder Kumar Koul of Anantnag (A/P Nowabad Sunjawan Jammu), Hamidullah Dar of Kulgam, Pran Nath Raina, of Kulgam (A/P Talab Tillo Bohri), Mohd Idris Bhatti of Kanyari Kathua, Nizam-ud-Din Wani of Partap Nagar Kathua, Baldev Singh of Janglote, Kathua and Ajit Raj Sharma of Chak Durma, Hiranagar was presented in the Court of CJM Kathua.
The accused were allegedly indulged in collecting money from the general public on the pretext of providing high rates of interest as compared to banks. However, when the investors demanded their money back, the accused went underground thus duping innocent people of their hard earned money.
During the course of investigation, relevant records of the company as well as bank statements pertaining to the bank accounts of these companies were gathered. Statements of prosecution witnesses as well as depositors were recorded besides FSL examination of deposit receipts.
It was established that these companies misappropriated the amount to the tune of Rs 29,75,308 from the innocent depositors.
Next date of hearing in the case has been fixed on March 29, 2014.
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