Dear Friends, I am lodging this information to make you aware that these type of companies are total FRAUD and have returned twice for few of the people and run away with 1000 of crores of rupee. One of my friend who has been victim of these company met the officials of these companies saying that if you did not return the money he will complain to ED, Income tax deptt etc. This officials of the company replied that you can do nothing we are having complete political support and where you cannot spent more than 1 or 2 lacs we can spent 20 to 30 lacs to put you in problems.
So therefore friends DO NOT INVEST MONEY IN ANY SUCH COMPANY which promise you an interest rate more than normal bank rate.
What these company do they get themselves registered with regitrar of companies which do not regulate any of the functions of the companies. Then they obtain a PAN card which is issued to any registered company.
Pls pls friends beware DO NOT INVEST IN ANY COMPANY WHICH IS NOT REGISTERED WITH RBI. Remember only RBI can authorise any company to take DEPOSITS/INVESTMENTS in INDIA, all others are fake and shall RUN AWAY WITH YOUR HARD EARNED MONEY.
- D K Gupta - a practicing Chartered Accountant