1 hr ago
EOW Files Chargesheet in 16-Year-Old JVG Fraud Case
The Economic Offences Wing has filed a court document in an old fraud case.
The case involves a company called Johar Veer Goga, or JVG.
A person said he invested Rs 3 lakh in the company many years ago.
The money was not returned when the investment ended.
Investigators said the company was not registered with the required regulators.
They also said company officials used genuine signatures on the investment receipts.
The investor’s family eventually recovered the original money after about 18 years.
Four people were named in the chargesheet, while two others are still being pursued.
The Economic Offences Wing filed a chargesheet against four people in Jammu.
The case concerns Johar Veer Goga, an unauthorised non-banking finance company.
A complainant said Rs 3 lakh invested in 1996-97 was not repaid at maturity.
Investigators said JVG was unregistered with the RBI and SEBI.
Proceedings are continuing against two absconding accused, while one named director has died.
- Who
- The Economic Offences Wing filed charges against JVG’s Managing Director Vijay Kumar Sharma, Directors Tirpath Singh Bhan and Mohan Chander Joshi, and Manager Amrik Singh Sambyal.
- What
- A chargesheet was filed in an alleged financial fraud case involving unauthorised investment operations and unpaid fixed deposits.
- Where
- The chargesheet was filed before the Third Additional Munsiff Judicial Magistrate First Class court in Jammu.
- When
- The case was registered in 2010 over an investment made during 1996-97; the chargesheet was filed on Wednesday.
- Why
- Investigators alleged that JVG operated without required registrations and deceived investors for wrongful personal gain.
Key facts
- Investigating agency
- Economic Offences Wing of the Crime Branch
- Company involved
- Johar Veer Goga, described as an unauthorised non-banking finance company
- Investment amount
- Rs 3 lakh
- Investment period
- 1996-97
- Case registration
- 2010
- Regulatory status
- Verification found JVG was not registered with the Reserve Bank of India or Securities and Exchange Board of India
- Recovery
- The complainant’s family recovered the principal amount after approximately 18 years
- Absconding accused
- Vijay Kumar Sharma and Tirpath Singh Bhan
Sources
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