Excelsior Correspondent
JAMMU, Oct 26: Sheen Finance and Investment Limited has gobbled up 22 crore rupees of the poor people on the name of doubling the amount as it had been liquidated in the year 2000 clandestinely.
This was stated by Satpal Singh Chib, Chief Patron, Welfare Association of Sheen Finance, Sheen Agro Planttion and Sheen Road Links, during a press conference here today.
He said that in the stay order, High Court has directed the Police Department to go ahead with its investigation in the FIRs registered against the company and its functionaries in the commission of offences.
Chib informed that against this a case was filed in the Court of Law on which the company had taken stay order on October 28, 2009 on the pretext that they are doing self investigation to find out the fraudster and are also making plan to pay the amount of the investors.
But after a long lapse of time when the company failed to refund the amount to the investor a petition was again filed by the investors to suspend the stay order taken by the company for further investigation by the police, he added.
He disclosed that after considering their petition High Court Jammu on October 19, 2012 suspended the stay order of the company and directed the police to carry forward their investigation and proceedings in the FIRs already registered against the company.
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