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| Beware! Fake Finance Companies | | Atleast 500 Sunderbani residents allegedly duped by a Company not existing on ground | |
EARLY TIMES REPORT
RAJOURI, July 24 : There are number of finance companies in Rajouri district which are allegedly engaged in illegal business of duping the residents on the name of giving double benefits. However some companies are genuine and fulfill promise made by them in the agreement with customer.
Sources said that there are few Finance Companies operating in Rajouri district which are accumulating hefty amounts from the locals assuring them double and triple benefits. However some companies are fulfilling the assurances made to the customers and most of the companies have either closed their business or they are at the verge of closing it.
Some of these companies have one mission- accumulate huge amount in some months and then disappear from the area.
Residents of Sunderbani area have alleged that they were also duped by a Finance Company in the area which has closed its shop after accumulating lacks of rupees from the locals.
These residents have recently lodged their protest with the administration and apprised them about an alleged fraud of a private finance company. The residents alleged that there was company namely Bhawani Finance Co operating in the area that had accumulated more than 80 lakh rupees from the locals with the assurance of refunding double amount in 3 years.
"We approached Managing Director of the Company for refunding our amount the same has closed his business and went to Jammu", a resident Mukesh Kumar alleged.
The residents said that though they had also approached police in Sunderbani, no action was taken against the culprits. "We want refund of our money and action against the culprit", they said adding there are atleast 500 people who have been duped by this company on the assurance of doubling the money in three years.
This is not a lone example, even in Rajouri many people complained that some Finance Companies are engaged in duping the residents on the name of giving them huge benefits. "Though some companies are genuine and they gave benefits, most of them are luring residents and then disappearing from the area.
Managing Director of Bharat Finance Co, Bharat Bhushan Gupta when contacted said that there are various Finance Companies in Rajouri and it is difficult to find out the genuine one. However he said that Bhawani Finance Company has been closed because it was running illegally in the area. "I have no clue whether there are more fake or illegal companies in Rajouri but some companies are genuine and they are fulfilling all the assurances made by them", Gupta said adding that all companies should not seen from the same microscope. "There are more genuine companies and people should themselves find out it and should always know about the track record of the Company before starting any business with it", he added.
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