Kashmir Crime Branch produces challan against man for duping investors on pretext of doubling money

Srinagar (Jammu and Kashmir) [India], July 7 (ANI): The Crime Branch of Kashmir Police on Wednesday produced a challan before the court of District Mobile Magistrate Anantnag against a man who allegedly duped people on the pretext of doubling their investments after unauthorisedly opening a branch of a private company in southern Anantnag district.
The accused has been identified as Bashir Ahmad Kichloo.
A statement issued by the Kashmir Crime branch read, "The Crime Branch Kashmir produced Challan in Case FIR No. 52/2005 U/S 420 RPC of Police Station CBK before the Hon'ble Court of District Mobile Magistrate Anantnag against Bashir Ahmad Kichloo S/O Ali Mohammad Kichloo R/O Dooru Anantnag A/P Baghi Mehtab Srinagar."

According to the Kashmir Crime Branch, the case owes its origin to a written complaint received by Crime Branch Kashmir, wherein the complainant had alleged that the management of the private company "Surbhi Agro Tech Limited Company" with its Head Office at 296 Industrial Area Phase 1 Panchkula Haryana had opened its branch office at Anantnag in March 1998.
The company collected a huge amount from the investors. However, in April 1999 the Company closed down its office at Panchkula Haryana and Anantnag Branch faced the same fate and thereby duped the investors of their hard-earned money, it said.
Accordingly, a case under section 420 RPC was registered in Police Station Crime Branch Kashmir.

The Kashmir Crime Branch stated that during the investigation it surfaced that the accused Bashir Ahmad Kichloo had unauthorizedly opened a Branch Office at K.P Road Anantnag and under the garb of this fraud company, he lured innocent people for investment on the pretext that the company will repay double of the invested amount after three years of deposition.
And as such collected a huge amount from innocent people, it said.
As per the Kashmir Crime Branch's statement, the investigation further revealed that a complaint was made by Bashir Ahmad Kichloo itself and the accused closed down its office in 1999 under the pretext that the company had closed down its main office.
It also surfaced during the investigation that in order to save himself from the clutches of law and to deviate the attention of investors Bashir Ahmad Kichloo came up with a complaint against the Surbhi Agro Tech Limited Company, it said.
Pertinent to mention, during the course of the investigation it came to fore that a case was already registered against the management of the company Surbhi Agro Tech Limited in Panchkula police station, Haryana, it added. (ANI)