RBI filed criminal complaints against two banks

RBI Filed Criminal Cases against Two Banks.


Indian Express News Paper Dated : 1/9/2009 Page No.7:

"The Reserve Bank of India has lodged a police complaint against the branch managers of two banks for allegedly accepting and then depositing fake Indian currency in its bank.According to the complaint filed on Sunday by the RBI, the Muzaffarnagar branches of PNB and State Bank of Bikaner had deposited fake notes".

The Directorate of Revenue Intelligence confirmed the fraud of Sujana

Andhra Jyothi News: 1/9/2009

The Directorate of Revenue Intelligence has confirmed that "Sujana" company has committed frauds with fake documents and fake details

Realtor Sahastra Estates India was held by the Consumer Court for deficiency in service

Eenadu News: 1/9/2009
The Realtor by name Sahastra Estates India was held by the Hyderabad Consumer forum-3 for its deficiency in service to allot land.

The realtor after collecting money did not register the land to its customer and demanded more money to allot another land. On that the customer approached Hyderabad consumer forum. The forum has held that the realtor is liable to return back the money of the customer with 12% interest and further Rs.2,000/- towards expenses for the case.

News full article

Tax Evasion Case Against Amway by A.P. State Government

Dated: 26/8/2009

The Commercial Tax Department of A.P. levelled a case against Amway for evasion of VAT Tax about Rs.90 lakh. The Hon'ble High Court of A.P. also rejected the plea of Amway to grant stay and ordered to pay 40% immediately.

• The Division Bench of the Hon'ble High Court of A.P. headed by Hon'ble Judges Goda Raghu Ram and Ramesh Ranganadhan refused to grant stay to Amway against the orders of the A.P. Commercial Taxes about the proceedings launched by the Department against the tax evasion by the Amway (W.P.No.17536 of 2009).
  
  
• Please refer Writ Petition No.17536 of 2009 on the website of Hon'ble High Court of A.P. High Court website link to know the status of the case:
  http://hc.ap.nic.in/pls/lobis/caseno

IBN's Story about the Frauds of Multi-Level Marketing Companies

1. Part-I


2. Part-II

Huge collection of illegal Deposits under different names and cheating the public at large

Eenadu News - Vijayawada : 31/8/2008

One Anupama Finance company of the Vijayawada has collected crores of deposits from the public under different names and ultimately turned its board.

Public are requested not to fall prey to these money collection companies. Immediately report the information of collection of deposits even registered NBFCs and Financial companies to police and RBI officials so that they can check their credential at least to save the some of the public.

Another massive cheating by collection of huge money with fake details

Sakshi News Dated : 31/8/2008 :
One Sujana company also cheated the public like as Satyam with fake details and documents.

Hon'ble Madras High Court Judge has commented that "law enforcing agencies will close the stable only after horse escaped".

Taking the lenient view of the RBI officials, SEBI and Police Officials, another dated to commit massive cheating. Public are requested to demand the Balance sheets of the company before investment and get it verify with your respective charted accountants and other known persons to know the real position of these companies.