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HC directs DySP to probe into "multi-crore" scam involving Sheen Finance, others 12/3/2015 12:02:31 AM Early Times Report Jammu, Dec 2: Observing that investigation in the alleged multi-crore scam involving Sheen Finance and other companies needs to be conducted by an experienced and skilled higher rank officer, a High Court division bench of Chief Justice N Paul Vasanthakumar and Justice Bansi Lal Bhat today directed DySP Bakshi Nagar to immediately take the charge of case and file status report. The court directive came in a PIL filed by Welfare Association of Share Holders of Sheen Finance & Investment (India), Sheen Agro Plantation Ltd and Sheen Road Links Limited. In the PIL it has been submitted that Sheen Finance & Investment (India) was floated orifinally but two more companies were later opened which were more like its sister concerns. One Naseeb Singh Pawar appeared to have been inducted as Managing Director of Sheen Finance & Investment. The shareholders were allured to invest their earnings in the said companies with a promise of hefty profit. Their allegation appears to be that the assets of the companies had been misappropriated by those who were at the helm of affairs and they were left without repayment of any initial investment which they had made. --(JNF)   Share This News with Your Friends on Social Network     Comment on this Story

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